Red Hot
Nov 1, 2007 12:00 PM
Chanel, Marc Jacobs and Diane von Fürstenberg are among the luxury designer brands ponying up record-setting rents for their high-visibility West Coast stores in Hollywood, West Hollywood and on Rodeo Drive.
Storefront rents along Robertson Blvd., between Beverly Blvd. and Melrose Ave., for example, command upwards of $30 per square foot per month for a flagship location — $360 per square foot per year. That's no Madison Ave. But it's still pricey. The reason? How about 30,000 vehicles that pass by each day along with well-heeled pedestrians and tourists.
“It's a big billboard on a highly traveled roadway,” explains Jonathan Ahron, managing director of the Charles Dunn Co.
