Los Angeles, Calif. (July 8, 2021) – Hackman Capital Partners and Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties, Ltd., announced today that Erewhon Market will be joining the roster of iconic tenants at The Culver Steps in downtown Culver City. Executive Vice President & Director of Retail Lee Shapiro and Senior Vice President Christine Deschaine represented the landlord, an affiliate of Hackman Capital Partners, in the transaction. The retail deal confirms continued momentum for this best-in-class project in Culver City and marks a major opening for Erewhon, representing the market’s ninth location in the greater Los Angeles area.
“Erewhon couldn’t be more excited about opening a new store in Culver City and serving the unique and robust community of residences and businesses,” said Yuval Chiprut, Chief Development Officer for Erewhon Market. “Culver City has recently witnessed impressive growth that attracted us to this vibrant neighborhood. After numerous years of searching, we feel we found our home. The Culver Steps project meets all our expectations. The project is extremely well-designed, and the tenant mix is impeccably curated. Its downtown location and proximity to major studios and employers makes us even more excited.”
Erewhon will be located on the highly visible corner of Culver and Washington Boulevards in a 14,258-square-foot space adjacent to CorePower Yoga. The grocer joins Amazon Studios, Sephora, Salt & Straw, Mendocino Farms, Pop’s Bagels and Philz Coffee at the approximately 120,000-square-foot mixed-use destination. With a public plaza and two levels of underground parking, The Culver Steps is the most exciting new development in downtown Culver City, the historic hub of television, movie and media production in Los Angeles.
“We are thrilled to welcome Erewhon Market as the anchor to an already incredible roster of restauranteurs and retailers at the Culver Steps,” said Mike Racine, Executive Vice President for Hackman Capital Partners. “Erewhon’s decision to plant its flag in the heart of Culver City speaks to the continued growth, desire and demand for world class businesses and trend setters to be in Culver City. Erewhon will be a boon not only to the Culver Steps but the greater downtown area providing another top-notch amenity to the residents and businesses in and around the neighborhood.”
The Kennedy Wilson Brokerage team’s deal with Erewhon at The Culver Steps aligns with current and foreseeable market trends that will continue to drive growth for retail in a post-pandemic market.
“We are already seeing a strong rise in foot traffic at brick-and-mortar retailers as Covid restrictions ease across the region,” said Shapiro. “And we expect Erewhon, with its regional following and strong brand recognition, will draw a new fan base of local employees, residents and shoppers to this location at The Culver Steps.”
About The Culver Steps
Owned by an affiliate of Hackman Capital Partners, The Culver Steps is a dynamic 120,000-square-foot mixed-used development in downtown Culver City, located across from The Culver Studios, also a Hackman Capital property. The Culver Steps development features approximately 40,000 square feet of retail space, 80,000 square feet of creative office occupied by entertainment giant Amazon Studios, a 40,000-square-foot public plaza and two levels of underground parking.
The Culver Steps, which takes its name from the grand staircase that connects the ground-level plaza to an elevated pavilion, was designed by EYRC Architects. The landscaped stairs also double as amphitheater seating for outdoor events. SWA Group was the project’s landscape architect, and KPRS Construction served as the general contractor. IDS Real Estate Group is The Culver Steps’ property management firm, and Kennedy Wilson Brokerage’s Lee Shapiro and Christine Deschaine continue to drive the project’s retail leasing efforts. For more information about The Culver Steps, visit www.theculversteps.com.
About Erewhon Market
Erewhon is an independent, family-owned grocer with current locations in Los Angeles, Calabasas, Pacific Palisades, Santa Monica, Silver Lake, and Venice. Since 1968, Erewhon has been committed to providing healthy, pure, and nutrient-rich food and products to the communities they serve. Included in this commitment is staying ahead of market innovations, supporting local farmers and brands, and caring for its employees, partners, and communities. Recognized for its uncompromising quality standards and customer service, Erewhon provides an experience unlike any other for its loyal and passionate shoppers. For more information, visit www.erewhonmarket.com.
About Kennedy Wilson Brokerage
Kennedy Wilson Brokerage, a division of Kennedy-Wilson Properties, Ltd., is a leader in the leasing and sale of commercial real estate, representing institutional and private capital investors and tenants across the United States. Our capabilities include investment sales and acquisitions, agency leasing, tenant representation, corporate services, valuation and advisory services. For more information, visit www.kennedywilsonservices.com/brokerage.
Kennedy-Wilson Properties, Ltd. is independently owned and operated and not a part of Kennedy-Wilson Holdings, Inc. or any of its subsidiaries and affiliates.
Alyssa Lawrence | Michael Martin
Murphy O’Brien Public Relations
Publication source : Press Release
Original Publication Date : Thu, 07/08/2021 - 12:00