Stores retreat from troubled Westwood. (Up Front).Nearly a dozen retail stores have closed their doors in Westwood Village during the past six months and another half dozen are getting ready to leave the once-prosperous village by year's end. Dissatisfied retailers bemoan be·moan tr.v. be·moaned, be·moan·ing, be·moans 1. To express grief over; lament. 2. To express disapproval of or regret for; deplore: the fact that the Village keeps limping along despite its proximity to affluent residents and one of the biggest university campuses in the state. Some claim that Madison Marquette, a major leasing agent and property owner in the neighborhood, has failed to follow through on promises to bring in more desirable tenants. Others decry de·cry tr.v. de·cried, de·cry·ing, de·cries 1. To condemn openly. 2. To depreciate (currency, for example) by official proclamation or by rumor. a lack of affordable parking. Westwood also faces competition from newer shopping areas in town and from UCLA UCLA University of California at Los Angeles UCLA University Center for Learning Assistance (Illinois State University) UCLA University of Carrollton, TX and Lower Addison, TX itself, which has opened up so much retail space that many students don't need to go elsewhere. "UCLA has built its own shopping center shopping center, a concentration of retail, service, and entertainment enterprises designed to serve the surrounding region. The modern shopping center differs from its antecedents—bazaars and marketplaces—in that the shops are usually amalgamated into on campus, which is a major draw to the students and taps millions and millions of dollars in business from Westwood," said Elliot Lewis, president of Paramount Securities, which owns property in Westwood Village. Madison's director of leasing, Bob Baker, defended the firm's efforts to attract new tenants, saying there are signs of success. But he added that the village will never be the great hub it once was because of increased competition from Montana Avenue Montana Avenue in California USA is a primarily residential street that stretches from Ocean Avenue to Barrington Avenue in Brentwood. The intersection of Montana and Barrington is one of the busiest in the area, due to its proximity to Sunset Boulevard. , Third Street Promenade The Third Street Promenade is a pedestrian street in Santa Monica, California, United States. It is considered one of the premier shopping destinations in West Los Angeles and frequently draws crowds from all over Los Angeles County. and Old Pasadena. Instead, Baker said that Madison--which controls much of the retail space on Westwood Boulevard--is working to make Westwood a retail center serving the local community. "This is not going to happen overnight, but we feel it is well on its way," Baker said. Promises made Some say the local focus represents a retreat. Two years ago, Madison Marquette sent a letter to prospective tenants saying that it was trying to bring Westwood back to being "Southern California's original urban village." A few big-name stores opened, including Victoria's Secret For the Sonata Arctica single, see Victoria's Secret (song) Victoria's Secret is an American retailer of high quality lingerie and beauty products.[2] , Ann Taylor Notable people named Ann Taylor include:
But Madison Marquette also announced that Urban Outfitters Urban Outfitters, Inc. NASDAQ: URBN owns and operates three retail clothing brands: Urban Outfitters, Anthropologie and Free People. The first store opened in 1970 in Philadelphia, Pennsylvania, focusing on "funky" fashion and household products. , Banana Republic banana republic n. A small country that is economically dependent on a single export commodity, such as bananas, and is typically governed by a dictator or the armed forces. , American Rag, Lucky Brand jeans Lucky Brand Jeans is a denim company from Vernon, California, United States, founded in 1990 by Gene Montesano and Barry Perlman. A subsidiary of the Liz Claiborne fashion company, they also produce sportswear, outerwear, T-shirts and active wear. , Boot Camp Software from Apple that enables an Intel x86-based Macintosh to host the Windows XP operating system. Boot Camp is used to divide the hard disk into Windows and Mac partitions, to install the necessary drivers and to create a dual boot environment. shoes and Z Gallerie were looking at Westwood Village. They haven't arrived. "I saw a lot of broken promises and false expectations," said Jeff Knight, founder and chief executive of Maui Beach Cafe, a popular bar and restaurant that opened on Westwood Boulevard in 1997 and closed 3 1/2 years later after losing $2 million. Knight, a former executive with Good Earth restaurants, said that while other university hubs are thriving, Westwood "is basically a shantytown shan·ty·town n. A town or a section of a town consisting chiefly of shacks. shantytown Noun a town of poor people living in shanties Noun 1. ." Retail rents hover around $3 to $4 per square foot, well below the $9 at more upscale locations. Baker contends that things are improving. He said the Ralphs supermarket, which opened late last year, has been a catalyst. "The quality of the tenants that are looking around is much better than it was," he said. Corner Bakery is going to occupy the former Maui Beach Cafe that's been vacant for one year, and a Chili's Restaurant has signed a lease to occupy the former Yesterday's Restaurant space, vacant for three years. Executives at the Westwood Village Community Alliance, the local business improvement district, say the retail climate has improved. "The overall retail vacancy is 7 percent," said Bob Walsh, executive director of the alliance. "Five years ago the vacancy rate was close to 15 percent." Ineffective mix? While vacancies may be down, disaffected retailers complain that the new stores aren't bringing in customers. "I work in the village, but I don't shop in the village because there is nothing here," said Michael Kohan, owner of Michael K Jewelers on Broxton Avenue. "I call Westwood Village a ghost town," said Rabin Soufer, owner of Robocat Shoes on Broxton Avenue. After losing $300,000 in five years, he is closing his store at the end of the year and concentrating on his Melrose Avenue location. Others business owners complain that Madison Marquette is bringing the same big-box stores that can be found in any shopping center. Christina Development Corp., which used to own most of the properties on Westwood Boulevard, sold a majority interest in them to Madison Marquette in 1998. Christina's president, Lawrence Taylor, said he has been disappointed with the leasing company's vision for the village. The lack of affordable parking remains another major complaint, hampering Westwood's ability to attract non-students from outside the area. Shop owners say validation costs them too much. Employees at Ann Taylor, which doesn't validate, suggest customers buy $5 worth of merchandise at the Rite-Aid drugstore to get validation. Philip Gabriel, owner of a medical clothing store, is trying to resolve the parking problem. As chair of the BID's parking committee, he is launching an effort to reduce the price of validation to retailers. "There is parking, but it's not affordable," he said. "And we need better signage pointing out where it is." |
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