WEST HOLLYWOOD, Calif.--(BUSINESS WIRE)--CIM Group announced today that is has signed a long-term lease with Fred Segal, a brand known for its eclectic mix of premier retailers, to bring a flagship store of approximately 22,000 square feet to the street level of 8500 Sunset, a first-class residential building located at the apex of Sunset and La Cienega Boulevards. Fred Segal Sunset will be prominent on Sunset Boulevard and spreads across the residential project, flanking the interior plaza.
“Fred Segal’s trademark flair for boutique retail is a strong addition to the vibrant Sunset Strip and sets the standard for the level of quality that we are bringing to 8500 Sunset,” said Shaul Kuba, Co-Founder and Principal of CIM Group.
Fred Segal Sunset’s distinctive Mansard awning with signature striping will frame the retail space along Sunset Boulevard. Its collection of carefully selected retailers will offer the best brands and operators across the major retail categories including fashion, accessories, fragrance and beauty products, beauty and health services, furniture and home interior items.
In addition to the retail offerings, Fred Segal Sunset will feature a cafe by San Francisco’s Tartine as well as a full lifestyle offering including a fitness studio, salon, wine shop, a florist and an indoor/outdoor restaurant created for Fred Segal by Los Angeles restaurateur Bill Chait. Fred Segal Sunset will also feature the MART at Fred Segal, as it has in its stores in Japan as well as a gifting concierge, bespoke tailoring and other personal services. 8500 Sunset’s outdoor plaza will be utilized by Fred Segal for fashion presentations, performances, red carpet and other events.
“The cache of Fred Segal is attractive to other retailers that want to locate adjacent to the popular destination. We are in discussions with several other boutique businesses for some of the remaining retail space,” noted Kuba.
8500 Sunset features approximately 190 residences in two eight-story towers and offers a total of approximately 42,000 square feet of ground level retail along on Sunset Boulevard and La Cienega. It has an unparalleled location, on the southwest corner of Sunset Boulevard and La Cienega, at the gateway to the Sunset Strip, a premier shopping, dining and entertainment district in West Hollywood. Across La Cienega, CIM is completing work on The James West Hollywood, a hotel comprised of two 10-story towers with 286 guest rooms.
Headquartered in Los Angeles, CIM is an investor in communities throughout North America. CIM identified the nearby city of West Hollywood as an urban district that meets the firm’s strategic investment guidelines and made its first investment in the city in 2005. Since then, it has acquired and developed a portfolio of properties in West Hollywood that includes office, retail, studios and multifamily residential uses.
About CIM Group
CIM Group is a leading real estate and infrastructure investment firm that since 1994 has systematically and successfully invested in dynamic and densely populated communities throughout North America. CIM Group draws on its experienced team of real estate, investment and finance professionals to identify and pursue investment opportunities in five strategic categories: repositioning and development projects, well-positioned operating properties, value-add properties, debt, and infrastructure. Headquartered in Los Angeles, CIM maintains regional offices in New York, the San Francisco Bay Area, Bethesda, Maryland, and Dallas. For more information, please visit www.cimgroup.com.