The rectangular building is enclosed by glazed facades on all sides, and its main entrance is made up of two 10 x 31.5 ft (3 x 9.6 m) sliding doors, which are opened up to the outside for most of the year to naturally ventilate the space. Located in The Grove shopping complex in Los Angeles, California, customers enter through huge glass doors to a tree-lined retail space with a mirrored ceiling.Īpple The Grove (also referred to as Apple At The Grove by Foster + Partners) was created by Foster + Partners, but Apple's own design teams are credited with significant input, and it doubles the available space of the previous Apple Store in the area. How Apple’s Steve Jobs is revolutionizing Manhattan retail – May 08, 2007įortune: Apple Inc.Apple and Foster + Partners' longstanding collaboration continues with the completion and opening of their latest Apple Store. Piper Jaffray finds ‘gravitational pull’ at Apple Retail Stores – November 26, 2007Īpple thinks different with cash register-less retail stores that bring in billions – November 23, 2007Īpple makes retail seem ridiculously easy – May 29, 2007 – November 13, 2012Īpple Inc.: The most profitable retailer in America – August 15, 2012Īpple’s retail juggernaut is magical and revolutionary in its own right – May 25, 2011Īpple Retail Stores hit 10th anniversary (with video of Steve Jobs’ tour of 1st store) – May 18, 2011Īpple Store: ‘The best damn retail experience in America!’ – December 2, 2010Īpple’s retail stores generate huge sales – December 27, 2007 retailer – May 16, 2014Īpple Stores dominate retail with double the sales per sq. President, May 21, 2001Īpple averages more sales per square foot than any other U.S. – David Goldstein, Channel Marketing Corp. I give two years before they’re turning out the lights on a very painful and expensive mistake. The buyer gets bragging rights to have such a tenant in its portfolio.'” ‘I doubt if there was the same size space next door for sale it would get close to that kind of price. “‘The sale says more about Apple than it does about the promenade,’ he said. “Jay Luchs, an executive vice president in the Century City office of Newmark Grubb Knight Frank, said that even though Apple’s retail building is new and situated in a premier location, much of the property’s value comes from its sought-after tenant,” Vertun reports. The partners originally acquired the building in 2010 for $26 million when it was still a Borders.” and ASB Capital Management of Bethesda, Md. “Jordache purchased the site from a partnership of Century City retail real estate firm Blatteis & Schnur Inc. “The latest sale of the Apple site is the second time it has traded in four years, during which it has appreciated by more than 280 percent,” Vertun reports. The buyer then was denim manufacturer Jordache Enterprises Inc.” The last sale of the site came in July 2012, when the Apple store was under construction. The one-story built-to-suit building at 1415 Third Street Promenade, constructed in late 2012 on the site of what used to be a three-story Borders Books & Music store, has stone-paneled side walls, a glass façade and a 34-foot-high glass ceiling. “Just three other retail properties in the county – all on tony Rodeo Drive in Beverly Hills – have sold for a higher price per foot. “That means the 17,550-square-foot retail box sold for about $5,700 a foot, a record for a retail property in West Los Angeles,” Vertun reports. Bridgton Realty, a private family real estate business in New York, late last month purchased it for $100 million.” “Two years after the glass-clad Apple store on the promenade sold for what was considered an eye-popping $60 million, it has sold again for even more. has made for another jaw-dropping real estate deal,” Jeff Vertun reports for L.A. “The global appeal of ’s Third Street Promenade and the cachet associated with Cupertino tech giant Apple Inc.
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