PK Retail Holdings, a subsidiary of South Korea-based retailer Emart and Shinsegae Group, has signed a lease for nearly 52,000 square feet for its U.S. headquarters as well as a retail complex at 712 S. Olive St. in downtown Los Angeles.
The company will occupy the first three floors of the seven-story, 162,600-square-foot office building. It will open a shop called PK Market on the ground and second floors, which will feature a food market.
Matthew Fainchtein, Carter Magnin, and James Chung of Cushman & Wakefield represented PK Retail Holdings in the lease negotiations. Mike Condon, Jr., Pete Collins, Kelli Snyder, and Brianna Demus, also of Cushman & Wakefield, represented the landlord, Atlas Capital Group.
“PK Market epitomizes a growing trend for tenants in Downtown L.A. who demand unique space that speaks to their brand and identity while capturing an opportunity for corporate offices as well as outward-facing business goals,” Condon said in a statement.
Real estate reporter Ciaran McEvoy can be reached at email@example.com or (323) 556-8337.