LOS ANGELES-Downtown retail here has reached a tipping point and may soon become a major destination for shoppers on par with San Francisco and New York. At least that's the claim of an executive with Brookfield Office Properties, which has laid a $40-million bet on the proposition.
Ed Hogan, the national director of retail leasing for Brookfield Office Properties, claims a key sign of downtown's potential transformation into a shopping destination is the recent commitment of Zara, a contemporary fashion outlet for men, women and children.
Zara has just signed to open a 27,000-square-foot flagship store in the FIGat7th shopping center, which has undergone a $40-million renovation by Brookfield. Zara's new store is expected to open in spring, 2014, and will showcase the brand's fashions within its signature store architecture and design.
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