• 0
  • Home
  • About Us
  • What We Do

Shopping Cart

GPAM
  • Home
  • About Us
  • What We Do

Caruso buys out leases in upscale shift at Palisades Village

Rick Caruso in front of Palisades Village (Getty Images, Caruso, iStock)
Rick Caruso in front of Palisades Village (Getty Images, Caruso, iStock/Photo Illustration by Steven Dilakian for The Real Deal)

Caruso is reworking its tenant profile at Palisades Village, in an effort to attract higher end brands.

The real estate firm, run by mayoral candidate and billionaire Rick Caruso, recently signed three new tenants at the mall in Pacific Palisades, according to CBRE’s Andrew Turf and Jonathan Schley, who worked on the deals.

Byredo, a perfume and candle store known for selling its products online and marketing on social media, is moving into the mall, marking its third store in Los Angeles. The brand, which sells perfume bottles for about $200 each, already has stores on Melrose Avenue and in Silver Lake.

Caruso also signed French menswear brand Officine Generale to a lease at the mall. The store will be the brand’s first in Los Angeles and second in the U.S., behind a store in New York City.

Aesop, an Australian skincare brand owned by Brazil’s Natura & Co., is also opening a store at Palisades Village. The new store is its 10th in L.A. — it has locations from Silver Lake up to Studio City to Culver City to Venice.

Each lease is for between 1,000 to 2,000 square feet in size, according to Turf, and will replace existing tenants at the shopping center.

Exiting the center via buyouts will be shops for clothing brands Madewell and William B + Friends, as well as homewares retailer St. Frank.

Though retailers were impacted from pandemic-related closures, brands are returning to core retail hubs, such as Palisades Village. As an open-air mall, the strip fared better than closed shopping centers during the pandemic.

Rick Caruso opened the shopping center in 2018, spending more than $200 million on the development. If Caruso wins his bid for mayor, he would put his company, which also owns The Grove, into a blind trust and have someone else take over the business.

Caruso is now working with CBRE to “bring in more appropriate” tenants, Turf said, adding there are no vacant storefronts at Palisades Village. In December, e-commerce womenswear brand MISA Los Angeles signed a lease to open its first brick-and-mortar store at Palisades Village.

“The property is probably the most successful village in L.A. not named Rodeo,” he said.

It hasn’t been all sunshine and flowers. In March, Amazon announced it would close its physical bookstores, meaning Palisades Village is set to lose a corner space tenant.

[contact-form-7 404 "Not Found"]

The post Caruso buys out leases in upscale shift at Palisades Village appeared first on The Real Deal Los Angeles.

Powered by WPeMatico

  • 22 April 2022
  • The Real Deal
  • Uncategorized
  •  Like
Developer plans 42-unit apartment complex in Westlake →← Mid-century manse hits market in Trousdale Estates
  • Recent Posts

    • Is CEQA win first shot at a broader overhaul for resi market?   July 5, 2025
    • Hankey finances bargain-bin hotel buy near SF’s Union Square July 3, 2025
    • Industry group flails as CEQA adjustments hit California builders unevenly July 3, 2025
    • Orange County office tower sells for discounted $19M July 3, 2025
    • City to deploy $425M of “mansion tax” money in record spending plan July 3, 2025
  • Recent Comments

    • Archives

      • July 2025
      • June 2025
      • May 2025
      • April 2025
      • March 2025
      • February 2025
      • January 2025
      • December 2024
      • November 2024
      • October 2024
      • September 2024
      • August 2024
      • July 2024
      • June 2024
      • May 2024
      • April 2024
      • March 2024
      • February 2024
      • January 2024
      • December 2023
      • February 2023
      • January 2023
      • December 2022
      • November 2022
      • October 2022
      • September 2022
      • August 2022
      • July 2022
      • June 2022
      • May 2022
      • April 2022
      • March 2022
      • February 2022
      • January 2022
      • December 2021
      • November 2021
      • October 2021
      • September 2021
      • August 2021
      • July 2021
      • June 2021
      • May 2021
      • April 2021
      • March 2021
      • February 2021
      • January 2021
      • December 2020
      • November 2020
      • October 2020
      • September 2020
      • August 2020
      • July 2020
      • June 2020
      • May 2020
      • April 2020
      • March 2020
      • February 2020
      • January 2020
      • December 2019
      • November 2019
      • October 2019
      • September 2019
      • August 2019
      • July 2019
      • June 2019
      • May 2019
      • April 2019
      • March 2019
      • February 2019
      • January 2019
      • December 2018
      • November 2018
      • October 2018
      • September 2018
      • August 2018
      • July 2018
      • June 2018
      • May 2018
      • April 2018
      • March 2018
      • February 2018
      • January 2018
      • December 2017
    • Global Property and Asset Mangement, Inc.
      137 North Larchmont
      Los Angeles, California 90010
      +1 213-427-1127

    © 2025 GPAM