7th street revival? urban outfitters not convinced
Despite its high-profile location on the corner of 7th and Hope in Downtown’s Financial District, the large retail space at the 617 W. 7th Street building has been vacant for over 10 years.
Prospective tenants, from Walgreens to furniture retailer BoConcept, have recently scouted the space but have been reluctant to commit.
Rumors circulating this week that Urban Outfitters is being courted, encouraged us that big-name “soft goods” retailers may finally start entering the Downtown market.
Unfortunately, that’s not the case just yet. Derrick Moore of CBRE clarified, “We did tour a representative from Urban Outfitters, but they decided to pass on the location.”
A top-tier merchandiser like Urban Outfitters would have been a nice reprieve from the barrage of lounges and bars we’ve been seeing, but wouldn’t a restaurant be more fitting along Restaurant Row?
Absolutely. But as Moore explains, “The landlord has decided not to sign a lease with a restaurant tenant due to the extensive cost and work involved.”
Still, 7th Street between Figueroa and Olive is one of the most walkable corridors in Downtown today and is seeing growing interest from business owners looking to capitalize on the pedestrian traffic. Regardless of the type of business that ultimately opens in this space, we’re sure it will have an attractive influence on the block.
Moore remains confident a quality tenant will be chosen. “We have had lots of interest in that space, and we believe the landlord will make a decision soon.”
9 comments
I think Borders would be perfect there.
OOOh yeah, or Barnes & Noble …with an expanded cafe
I vote for 99 Cents Store!
Anything. I’m so sick of looking at that empty space.
Apparently it will have to be a retailer that generates margins sufficient to cover the rent. Maybe a Crate & Barrel or Men’s Wearhouse or Nordstrom! Ok by me, although I would prefer to see some local non-chain entrepreneur. I hope it’s one that will dress windows for shoppers and offer a reasom to walk Seventh.
a walgreens right across the street from the rite-aid?? that is so retarded. supposedly the asking rent for that space is so ree-damn-diculous that only a cash cow national credit tenant can afford it (which is why urban outfitters passed). but c’mon… a walgreens?!?!!
while i would love to see a borders or barnes n noble, i think its large enough to fit a trader joes
I think a bookstore would be the best. I love Metropolis Books, but having a major bookstore near Metro Center would be a huge draw for tourists and office workers, I think.
Does anyone find it ironic that Urban Outfitters passed on this, very URBAN, location.
Maybe it should be called Suburban Outfitters?
BoConcept would be a great choice. People can shop before or after their dinner. Walgreens on 7th st, imo, not a good idea.