Downtown LA’s Retail Rush
Now that retailers are no longer kicking the tires about Downtown LA, the race is on to serve the booming residential population (it tripled in the last decade) and the half-million people now working there. Downtown Business Improvement District (DCBID) director of economic development Nick Griffin says that the basic strategy is focused on four sectors: office & industry, retail & hospitality, residential, and arts & culture. Within those sectors, Nick drills down further: content (fact-filled reports for prospective retailers), convening (events like our recent Bisnow retail summit, which brings people together to support a vision), and consulting (one-on-one guidance to help retailers scout locations, connect with the right brokers and navigate the city’s bureaucracies). Nick, who has a decade of experience as a leading commercial leasing and sales broker, says there is 1.8M SF of brand-new retail space being built, ready for the diversified nabes that welcome every taste from H&M and Victoria’s Secret to the more local and cutting edge. Find out more about downtown LA here, and for more information on our Bisnow partner, click here.