Exploring the retail and leisure scene of Los Angeles: A dive into Santa Monica and beyond
In the latest instalment of our trilogy series, we journeyed to the streets of Los Angeles to uncover the pulse of its retail and leisure landscape. Amidst a speaking engagement in early April, Thomas Rose took the opportunity to immerse himself in the energy of California's iconic city.
Venturing beyond the confines of traditional malls, Palisades Village emerged as a exemplar of retail-led development. Delivered by visionary Rick Caruso, the meticulously curated scheme charmed with its pristine aesthetics and aspirational tenant mix. Combining a razor shape tenant mix policy, immaculate customer services alongside spotless public realm and regular activation such as farmers markets the scheme is just so desirable.
Nestled to the Northeast of LA lies Santa Monica, a hub of affluence and sun-kissed charm. Its crown jewel, Third Street Promenade, akin to the iconic thoroughfares of Oxford Street in London or Fifth Avenue in New York, has long been a beacon of retail. Yet, post-pandemic, the once-thriving street bore the scars of economic downturn, with vacancy rates soaring to a staggering 40-50%. Speaking to locals they lament the twin challenges of homelessness and lingering aftermath of various political and cultural protests which had left a trail of shattered storefronts in their wake. The absence of coordinated security and marketing efforts only exacerbated the challenges faced by the street's disparate ownership structure. Perhaps they should look to London where BIDs such as New West End Company and HOLBA have done such a great job in coordinating a narrative for an area.
Despite the gloom, glimmers of light do shine through the cracks. Standout stores such as Wilson, Patagonia, Anthropologie, and the ubiquitous alo dotted the landscape, hinting at resilience amid all the adversity. At the end of Third Street stands Santa Monica Place, previously a beacon of retail development. Although weathered by the pandemic storm, the mall is starting to show some promising signs of revival, with leisure spaces like Club Studio and Arte Museum pre-leased (albeit not yet open) offering the potential to inject fresh life into the scheme.
Venturing beyond the confines of traditional malls, Palisades Village emerged as a exemplar of retail-led development. Delivered by visionary Rick Caruso, the meticulously curated scheme charmed with its pristine aesthetics and aspirational tenant mix. Combining a razor shape tenant mix policy, immaculate customer services alongside spotless public realm and regular activation such as farmers markets the scheme is just so desirable. Added to that unique anchors such as Bay Theatre, one of the very limited number of Netflix own-label cinemas, and you have a recipe for success.
Meanwhile, Westfield Century City stood as a testament to LA's enduring retail landscape, boasting a strong array of mid to upper-tier brands alongside F&B anchors including globally renowned Eataly.
In a more local, residential context within Northern Santa Monica, Montana Avenue catered to the tastes of locals, offering a abundance of cosmetic and wellness services. However, it was Abbot Kinney Boulevard in Venice that stole the spotlight, reminiscent of New York's Williamsburg or London's Redchurch Street. Here, an array of independent boutiques, major brands, and eclectic F&B offerings combined to create an organic narrative of relaxed cool which just hooks you in. Definitely one to visit.
Reflecting on our exploration, one trend emerges with resounding clarity — the dominance of athleisure and wellness in the City of Angels. With a myriad of brands promising to elevate mind, body, and spirit, one can't help but wonder — will these sectors continue to shape the future of retail on both sides of the pond?
Article by Thomas Rose
Photo credits: Thomas Rose
