New Retail Space for L.A. Fashion District
The Los Angeles Fashion District is adding another retail venue to its growing portfolio as one of the district’s major landholders, the KI Group, puts the finishing touches on Maple Union, a 100,000-squarefoot retail center at Maple Avenue and Olympic Boulevard.
Led by principal Sina Kangavari, KI Group is expected to open its latest retail project in a matter of days. “We’re shooting for Nov. 1,” he said.
The Los Angeles–based company recently received occupancy permits from the city of Los Angeles and has already secured about 80 percent of the leases. The company teamed with Bridge Capital Development for the estimated $10 million project.
Maple Union will bring to the market about 120 retail spaces averaging 1,000–1,500 square feet, with rents expected to be in the $3,000- to $6,000-per-month range. Offerings will include women’s and men’s apparel, accessories, footwear and jewelry.
The three-story building features groundlevel retail and two floors of upper-level parking, said Kangavari. The developer demolished an older building on the site, which contained retail and office space.
Kangavari said the project should benefit from foot traffic extending from the popular Santee Alley shopping area. “We’ve been developing the northeast corner of Olympic and Wall from Olympic and Santee to continue the foot traffic from Santee Alley,” Kangavari said.
KI Group has at least 750,000 square feet of wholesale and retail space in the Fashion District area. Other projects include the Pico Regency Plaza. Next up is Stanford Regency Plaza, a $30 million wholesale project, which will bring 200 more showrooms to downtown. —Robert McAllister
