LOS ANGELES – March 25, 2014 – (RealEstateRama) — Global real estate investment and services company Kennedy Wilson has announced the opening of OAK NYC, a subsidiary of American Apparel, in downtown Los Angeles. Kennedy Wilson brokered the landmark deal for the cutting-edge retail tenant, which signed a five-year lease at The Sparkle Factory, a seven-story retail and creative space that serves as the international headquarters for Tarina Tarantino’s world renowned jewelry line.
Justin Weiss and Lee Shapiro of Kennedy Wilson, which holds exclusive representation on The Sparkle Factory property, represented the landlords, Alfonso and Tarina Tarantino, in the transaction, while Jonathan Schley of the Tungston Group represented OAK.
“The burgeoning southern corridor of Broadway has been a hotbed for retail activity over the last two years,” said Weiss. “OAK’s avant-garde style and chic clientele are strong additions to an area that has been enthralled in a retail renaissance and is, in turn, beginning to experience an influx of these kinds of retail tenants. This flagship location is an ideal fit for the brand, as Tarina and Alfonso are continuing to work towards elevating The Sparkle Factory into one of the most unique retail environments in all of Los Angeles.”
Located at 910 Broadway in the historical L.L. Burns Western Costume Company, the 2,100-square-foot space will house OAK’s West Coast flagship store. The trendy retail brand also operates in New York City, with shops in SoHo and Williamsburg, Brooklyn.
“Councilmember Huizar and his Bringing Back Broadway team were critical in helping us reactivate this nearly 100-year old building and Justin Weiss and Lee Shapiro of Kennedy Wilson have been instrumental in guiding and executing our vision for The Sparkle Factory,” said Tarantino. “OAK’s unique point of view is exactly the high-caliber retailer that we are proud to have as a tenant of our beloved Sparkle Factory.”
Founded in 1977, Kennedy Wilson is a vertically integrated global real estate investment and services company headquartered in Beverly Hills, CA, with 24 offices in the U.S., U.K., Ireland, Spain and Japan. The company, on its own or with partners, invests opportunistically in a variety of real estate related investments, including commercial, multifamily, loan purchases and originations, residential, and hotels. Kennedy Wilson offers a comprehensive array of real estate services including investment management, property services, auction, conventional sales, brokerage and research. For further information on Kennedy Wilson, please visit www.kennedywilson.com.