H&M Coming to Downtown LA
H&M is coming to downtown Los Angeles. The Swedish retailer signed a 10-year lease for a new, 30,000-square-foot space at the renovated Figat7th retail center, located at Figueroa and Seventh streets.
The retail center is now owned by Brookfield Office Properties, the largest commercial-building owner in downtown Los Angeles, which spent $40 million recently to give the place a facelift.
H&M, known for its trendy fast-fashion selection of inexpensive merchandise, will be joining Zara, another fast-fashion retailer, expected to open soon in the center anchored by a City Target store. Recently, an upscale Sport Chalet sporting-goods store debuted at Figat7th.
With two trendy clothing stores and several culinary options, Figat7th will be giving downtown residents and workers a good reason to shop.
“This lease continues a strong trend overall in downtown Los Angeles for the opening of quality, brand retail in all sectors, from fashion to dining,” said Ed Hogan, national director of retail leasing for Brookfield Office Properties. The commercial real estate firm said this was the largest retail lease in downtown Los Angeles in the past 20 years.
H&M said it was attracted to the area because of a demographic survey showing that many downtown residents are more educated and affluent than the average Los Angeles resident.
The new H&M store, which will occupy 30,000 square feet, is slated to open in late spring next year. Meanwhile, H & M fans can shop in the company’s other Los Angeles–area stores in areas such as Hollywood, Santa Monica, Glendale and Pasadena.