The Eastern Columbia Building
Acne to Open Flagship in Downtown LA
Downtown Los Angeles contemporary retail received a big vote of confidence when prominent Swedish contemporary label Acne Studios confirmed that it would open a 5,000-square-foot boutique near Los Angeles’ fashion district.
Acne is scheduled to open its Los Angeles boutique in fall 2013 at the distinctive, art deco Eastern Columbia building at the corner of Broadway and East Ninth Street. The boutique will carry men’s and women’s ready-to-wear and denim, along with bags, accessories and footwear. The boutique also will feature a café.
Downtown Los Angeles was not on Acne’s radar previously, said Mikael Schiller, executive chairman of Acne Studios. “It wasn’t our original intention to open in this part of Los Angeles, but we fell in love with the Eastern Columbia building,” Schiller said. “We feel that there is something vibrant and interesting going on in downtown LA, and we wanted to be part of this transformation.”
The Swedish label will open its flagship a block north of the upcoming Ace Hotel. The highly anticipated hotel is scheduled to open at the end of this year at the United Artists building, an ornate edifice that opened in 1927. The Ace enjoys an avid following from wealthy, hip and culturally attuned people who stay at its other locations in Seattle; New York; Portland, Ore.; and Palm Springs, Calif.
Property owners and retailers expect that the Ace will attract a steady stream of new tourists to downtown, said Steve Hirsh of the Cooper Design Space showroom building, which is two blocks from Broadway and Ninth. With more apartment buildings being constructed in downtown, retailers can expect more consumers to support the neighborhood’s contemporary retailers, he said.
Change has come quickly to the corner of Broadway and Ninth. Just 18 months ago, a square foot of commercial space cost $50 and there was little interest in the corner, said Brad Luster, president of Major Properties in downtown LA. Recently, a square foot of commercial space on Broadway has shot up to $125, Luster said.
“We’re seeing a lot of interest from boutique and high-end users and retailers trying to get into the marketplace,” he said. Urban Outfitters has reportedly been scouting downtown Los Angeles locations, according to sources.
