Los Angeles Business Journal reports on Pacific Union’s SoCal expansion
January 12, 2018
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American Apparel’s former retail store at 18820 Pacific Coast Highway in Malibu will become the first surf shop operating in the U.S. under retailer Quiksilver Inc.’s new name, Boardriders Inc.
Nate Smith, president of the Americas for Boardriders, said the store is being partially demolished and the project is expected to cost around $1 million. He expects a soft opening of the store in mid-March with a grand opening shortly afterward. The store will offer a café, barber shop, surfing clinics, movie nights and the occasional scheduled appearance by athletes.
Huntington Beach-based active apparel brand Boardriders announced Quiksilver’s renaming and rebranding strategy in March 2017. Boardriders owns three brands, Quiksilver, Roxy and DC Shoes, and said Jan. 4 it would acquire Australia-based Billabong International Ltd. in an all-cash deal, pending certain approvals.
The single-story structure is on the ocean side of the highway, features good visibility and has minimal retail competition nearby.
American Apparel shut down its retail stores – more than 100 of them – since its second bankruptcy protection filing in 2016. Canadian apparel maker Gildan Activewear Inc. purchased the bankrupt downtown clothing manufacturer’s intellectual property for $88 million in February 2017.
San Francisco-based residential real estate brokerage Pacific Union International Inc. has expanded into the Los Angeles market and announced that Nick Segal, the ex-chief executive officer of the Partners Trust brokerage, will become president of Pacific Union L.A.
Pacific Union acquired Partners Trust as well as Gibson International and John Aaroe Group last year. All three brokerages now will operate under the Pacific Union name.
Segal will oversee more than 900 real estate professionals in 20 offices in the Los Angeles area, the company said in a statement.
The brokerage said its professionals closed more than $6.8 billion in real estate sales last year. Those sales included the highest in Beverly Hills at $70 million, the Wilshire Corridor at $20 million and Venice at $14.6 million.
In total, the Los Angeles-based branch of Pacific Union has more than 600 active commercial and residential listings.
Pacific Union has more than 1,700 real estate professionals in 51 offices throughout California. The company said it expects annual sales for 2018 to reach $18 billion.
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