Business & Tech
Major Retailer Renews Promenade Lease
Deal with Barnes & Noble inked as Restoration Hardware Baby & Child opens next-door. Dr. Martens to replace Lucky Brands.
Big-box bookseller Barnes & Noble will remain in its prominent corner at Wilshire Boulevard on the Third Street Promenade, property owners the Joseph Romano Co., Inc. announced Monday.
The companies renewed a long-term lease, but declined to disclose specifics.
"For the past 17 years we have been extremely fortunate to serve booklovers on the Westside from our Third Street Promenade store," Ed Toohey, Director of Real Estate for Barnes & Noble, said in a statement. "The exciting opportunity to extend the lease allows us to continue this great tradition."
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See also: New Apple Store Fetches Whopping $60 Million
The news comes two days after Restoration Hardware Baby & Child held its grand opening on the same block. It's the third store of its kind nationwide, with two other locations in Northern California and Houston.
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Meanwhile, also on the 1200 block, Lucky Brand will be replaced by Dr. Martens.
Principal Joseph Romano called each of the retailers "great additions to the block."
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