Apple rumored to turn huge downtown LA building into flagship store, office space
A new rumor claims Apple has leased a large part of the Broadway Trade Center, a five-story, 1.1 million-square-foot building located in downtown Los Angeles, Calif., and is looking to convert the space into a mini campus complete with Apple Store.
Citing an anonymous tipster, the Downtown Examiner reported last week that Apple has signed a lease for "several hundred thousand square-feet" of space in the building, but offered no expected move-in date.
As far as how the gigantic area will be used, there are rumblings of a multi-use "campus" with offices, residential and retail space. Aside from a flagship Apple Store, a portion of the plot could be earmarked for a shop dedicated to Beats by Dre hardware, the site said.
According to ifoAppleStore, the location currently plays host to multiple swap meet style shops on the ground floors and a light manufacturer on the upper levels. Noting Apple's penchant for leasing in up-and-coming locales, the website points to an initiative called "Bringing Back Broadway," a ten-year plan to revitalize the historic Broadway area with theaters, commercial space and even a streetcar.
The Broadway Trade Center started life in 1908 as the Hamburger department store, which incorporated a restaurant, grocery store, post office, roof garden, theater and physician's office. Department store chain May Co. purchased the building in 1923 and later built on the property with a connected nine-story tower and one of the first parking garages in the U.S.
In 1979, the U.S. National Park Service listed the Broadway Theater and Commercial District in the National Register of Historic Places (PDF link), saying the Broadway Trade Center (then May Co.) is an architectural landmark "contributing character" to the area.
As reported by the Los Angeles Times in April, the building was purchased in 2014 for an estimated $115 million to $130 million by New York real estate investment firm Waterbridge Capital.
Citing an anonymous tipster, the Downtown Examiner reported last week that Apple has signed a lease for "several hundred thousand square-feet" of space in the building, but offered no expected move-in date.
As far as how the gigantic area will be used, there are rumblings of a multi-use "campus" with offices, residential and retail space. Aside from a flagship Apple Store, a portion of the plot could be earmarked for a shop dedicated to Beats by Dre hardware, the site said.
According to ifoAppleStore, the location currently plays host to multiple swap meet style shops on the ground floors and a light manufacturer on the upper levels. Noting Apple's penchant for leasing in up-and-coming locales, the website points to an initiative called "Bringing Back Broadway," a ten-year plan to revitalize the historic Broadway area with theaters, commercial space and even a streetcar.
The Broadway Trade Center started life in 1908 as the Hamburger department store, which incorporated a restaurant, grocery store, post office, roof garden, theater and physician's office. Department store chain May Co. purchased the building in 1923 and later built on the property with a connected nine-story tower and one of the first parking garages in the U.S.
In 1979, the U.S. National Park Service listed the Broadway Theater and Commercial District in the National Register of Historic Places (PDF link), saying the Broadway Trade Center (then May Co.) is an architectural landmark "contributing character" to the area.
As reported by the Los Angeles Times in April, the building was purchased in 2014 for an estimated $115 million to $130 million by New York real estate investment firm Waterbridge Capital.
Comments
That would be to either the co-original Apple retail location in the Galleria, now orphaned by a larger store nearby in the themed "Americana" Caruso development that risks sending one into existential despair.
Apple's mindshare value would go up tremendously with a store in downtown LA. The city simply has no other central core for the arts, in my opinion. If they could recapture the feel of the original 1906 department store interior, that would be just amazing.
Great idea, hopefully someone will look into it. This topic already woke me up too early, so i'm bailing.
I believe the next closest Apple Store is in Manhattan Beach at the mall.
Hey it's only a rumor so I can speculate too right ? I wonder if, rather than Apple leasing the building, might Waterbridge Capital have really been fronting for Apple in the purchase?
Except Apple already has a property front company, Braeburn Capital.
So, in the spirit of random speculation, is the Manhattan Beach location going to move across the street to El Segundo in the new mall? It is supposed to have some very high end stores, and there is actually enough space for a reasonable store. Too bad pedestrian/bicycle access sucks.
Santa Monica is closer and faster though from downtown.
Well I was only speculating ...
Well I was only speculating ...
True, and it's not a bad speculation. Braeburn is probably known in some circles, but the general public wouldn't recognize it.
Waterbridge was founded in 2000 and seems to dabble in lots of things (they're NYC based), pretty sure they're not owned by Apple. Besides, they named Braeburn after a variety of apple.
However, once the Expo line is complete, it will be a simple train ride to Santa Monica Third street.
What a downtown store will get Apple though is immediate access to all those USC students, and the huge growing hipster residents spilling over from Sikverlale -- a very affluent and artistic community.
T'would bring much cred to the long-developing arts community downtown. The nearest Apple stores I can think of are about eight miles in Glendale, which is like traveling to the last century.
That would be to either the co-original Apple retail location in the Galleria, now orphaned by a larger store nearby in the themed "Americana" Caruso development that risks sending one into existential despair.
Apple's mindshare value would go up tremendously with a store in downtown LA. The city simply has no other central core for the arts, in my opinion. If they could recapture the feel of the original 1906 department store interior, that would be just amazing.
I believe the next closest Apple Store is in Manhattan Beach at the mall.
Century City is closer, and probably even Santa Monica as well. (But then, I'm waiting for the next 5th Ave store, so what do I know)
I believe the next closest Apple Store is in Manhattan Beach at the mall.
Santa Monica is closer and faster though from downtown.
You're both wrong. The next closet Apple Store is their LA flagship in the Grove Shopping Center near CBS Television City, just off Fairfax, between Beverly & Third. If not Old Town Pasadena, just up the 110 freeway, or the aforementioned Glendale Gallaria store. Somebody ask Siri.
However, once the Expo line is complete, it will be a simple train ride to Santa Monica Third street.
What a downtown store will get Apple though is immediate access to all those USC students, and the huge growing hipster residents spilling over from Sikverlale -- a very affluent and artistic community.
Wait; I thought the question was, what store is closest to downtown after "The Grove"?
Several stores are closer than Manhattan Beach. Now I think about it, though, the Pasadena store is maybe a bit closer than Glendale, plus there's an actual way to get there easily without a car (in LA!!). Some of those downtown types are probably going carless these days.
Anyway, you got The Grove at Fairfax and Third, the Beverly Center just a mile further at La Cienega, the Sherman Oaks store off the 101 in the Valley, and, like aaarrrggghh said, Santa Monica, but you can't get across the city anymore at any reasonable hour.
Ten stores but no flagship. Does LA deserve one, diffuse as it is? I'd like to see one devoted to teaching video editing, since there used to be a lot of that for Apple—before Final Cut X, don't know how it is now—and also focused on graphic arts, another LA industry. Bizarre's suggestion to turn it into Apple's fashion center isn't so far-fetched, since LA's garment, fashion and jewelry districts are all very close by this building.
Edit: Mac _128 has a keen cultural geography going at post 11. How could we (me) forget USC? And Silverlake and ECHO PARK!!! But where are they going to park? Maybe there's a solution to that nearby. Have to scope it out.
Except Apple already has a property front company, Braeburn Capital.
But... if they know we know that... Won't they zag when we think they should zig?
But... if they know we know that... Won't they zag when we think they should zig?
Unless they expect we'd expect that, so they figure that we would figure they wouldn't use Braeburn, and then they'd feel safe using Braeburn.
But everyone knows this.so Apple might be working via another group to try to keep it a secret