Melrose Avenue west of La Cienega Boulevard, part of West Hollywood’s Design District, is one of L.A.’s favorite shopping streets according to Apparel News.
The apparel trade publication says that while earlier in the year retailers were cautious about relocating or expanding, now high-end tenants are on the hunt.
“Currently, the vacancy rate is at about 10% to 15%, while monthly rents are averaging about $15 to $20 a square foot,” Apparel News reports of Melrose Avenue’s west side. “More-reasonable rents are found on Melrose Avenue just east of La Cienega Boulevard. The average store lease commands $5 to $6 a square foot in an area where the vacancy rate is 10%.”
Robertson Boulevard, in decline in recent years, may be edging back. The full Apparel News story can be found online here.