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Westwood Village Struggles to Compete in Dynamic SoCal Retail Market
Retail leasing activity in Los Angeles’ Westwood Village market has struggled recently to keep pace with other emerging submarkets. In fact, a number of businesses have shuttered or relocated elsewhere in SoCal.
Among the recent closings include the Palomino Restaurant & Bar, an 18-year staple of Westwood, Tommy Taco is up for sale, as is Frostalicious and Onkei Ramen. Recent additions to the mix in Westwood include 7-Eleven and Amazon store, as well as D1 Cafe and The Poke restaurants, which opened earlier this year.
Challenges unique to Westwood include diverse neighborhood audiences of both permanent residents, as well as UCLA students. NKF’s Jay Luchs believes some of Westwood’s retail issues are brought on by online shopping trends, which affects retailers nationally. But he sees growth potential for Westwood, as reflected by Urban Outfitters recent expansion, though he noted the submarket has historically not been a retail stronghold.
For comments, questions or concerns, please contact Dennis Kaiser
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