The Brentwood Town Center is getting a shake-up. The compact retail center next to the Brentwood Country Mart recently signed five new leases worth more than $8 million, said Dan Blatteis, co-chairman at property owner Blatteis & Schnur Inc.
The biggest new tenant, upscale cosmetics store Cos Bar, took a 10-year lease for 1,474 square feet. Premium denim brand Paige Denim also signed for 10 years, taking 1,208 square feet in what will be a flagship location. Activewear company hpe signed a five-year lease for a 540-square-foot location. All plan to open in December.
Workout studio Platefit opened last month in a 763-square-foot space in a lease set for 10 years and Blue Bottle Coffee will replace Starbucks in May with a 10-year lease for 673 square feet.
The newcomers will take over from tenants reaching the end of decade-long leases, including a couple of beauty salons, a dry cleaning service, a watch store, and a women’s apparel shop.
Blatteis & Schnur Inc. purchased the 11,933-square-foot property nearly 10 years ago, when the shops were fully leased. After weathering the recession, Blatteis said the center bounced back.
“We hung on,” he said. “True to form, this property held its value and came back strongly.”
Blatteis & Schnur Senior Vice President Ashley Brown worked for about a year to recruit new tenants that would represent an upgrade and appeal to the local market, he added.
“Brentwood is more of a community destination, it’s not like Beverly Hills which is more of a tourist destination,” Blatteis said.
Blatteis & Schnur also owns several shops on Abbot Kinney Boulevard in Venice, and handled the leases for designer brands Theory and Helmut Lang at Brentwood Place.
It is also building the At Mateo project in downtown’s Arts District, set to offer 130,000 square feet of retail and restaurants plus 50,000 square feet of office space in the spring.