DFS Beverly Hills Space Leased
The former space occupied by duty-free purveyor DFS North America in Beverly Hills, Calif., has been subleased to Woodland Hills, Calif.-based Paul Jardin of USA Inc., the operator of the Three Day Suit Broker retail chain.
Sam Shahinian, chief executive of Paul Jardin, plans to turn the 8,000-square-foot space at the southwest corner of Wilshire Boulevard and Rodeo Drive into his company’s first high-end men’s store. The shop, which is yet to be named, will carry European lines.
Terms of the deal were not disclosed. The asking rate for the space was $9 a square foot but the tenant paid less, according to sources. Burberry paid around $6.50 a square foot for a new 12,000-square-foot store it is opening at the former Planet Hollywood restaurant across Rodeo Drive this December.
DFS closed its location at the end of the first quarter earlier this year and plans to relocate to an expanded venue of 42,000 square feet at the Hollywood & Highland retail center being constructed by TrizecHahn Development Corp. in Los Angeles. The project is scheduled to open in November.
Matthew May, owner of May Realty Advisers in Los Angeles, represented both the landlord and tenant in the DFS deal. —Nola Sarkisian-Miller
