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Saturday, Feb 24, 2024

Clothing Store Takes Space – With Alterations

A dead spot on the otherwise booming retail sector of downtown Glendale is about to be eliminated. Discount clothing retailer Marshalls is taking over a nearly 30,000-square-foot space at East Broadway and Brand Boulevard that has remained vacant since Borders bookstore went out of business in April 2011. The 100 S. Brand Blvd. building features a glass front and is near the epicenter of the city’s shopping district, one block from the Americana at Brand outdoor mall and the Glendale Galleria, making it a prime location for any retailer. But the building will need some work. Borders was known for odd construction, such as buildings with multiple levels and small kitchens or coffee shops. Marshalls, as a fashion retailer, will likely have to rework the layout. Philip Lanzafame, director of economic development for Glendale, said the building was vacant as long as it was in the city’s vibrant retail district because it did not appeal to many occupants. “Marshalls has the financial strength to accommodate the changes the building would need,” he said. The building is owned by R.A. Glendale LLC, a Mill Valley company that could not be reached for comment. Bill Bauman, executive vice president at Studley Inc. was the broker on the lease. He said the main challenge in finding a tenant was the two-floor layout. Bauman said the ownership was approached by several health clubs and other retail businesses before Marshalls agreed to move in. “Marshalls is taking the space as is,” he said. “There are no concessions.” Bauman said the company will begin construction in the next few weeks. He wouldn’t disclose the lease rates, but said that it was a market-rate deal. Typical retail lease rates for the area range between $3 and $3.50 a square foot, according to Todd Nathanson, president of Encino firm illi Commercial Real Estate. He said Marshalls may have been able to negotiate a slightly better lease rate at what is a very desirable location. “This is one of the prime intersections in Glendale,” he said. “Drivers pass this to get to the Americana.” Marshalls, which has nearby outlets in Burbank and Montrose, is owned by TJX Companies Inc. of Framingham, Mass., which owns several other retailers, including T.J. Maxx and HomeGoods locations in Glendale. The company said that it plans to open the store this fall, but would not provide any additional information. Marshalls operates more than 850 locations between 42 states and Puerto Rico, including eight outlets in the greater Valley region.

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