Los Angeles, CA – Matthews Real Estate Investment Services™, the nation’s fastest-growing commercial real estate firm, represented the landlord, Cardinal Investments, in the lease of approximately 1,850 square feet in Downtown Manhattan Beach to national swimsuit boutique, Everything But Water. Senior Leasing Associate Nick Day, and SVP and National Director of Retail Leasing, Michael Pakravan, represented the landlord.
With water views at the storefront, the location is surrounded by world-class retailers and restaurants. Downtown Manhattan Beach tenants include SUGARFISH, Splendid, Pressed Juicery, Free People, Sketchers, Simmzy’s, and Lorna Jane, to name a few. Matthews™ agents leveraged their intimate knowledge of the area, including previous tenant and landlord deals, and current retail market trends to assist the landlord in finding an ideal tenant for the location. Matthews™ has helped secure similar tenants at 3714 Highland Avenue, 200 Longfellow Avenue, and 332 Manhattan Beach Boulevard.
“Although smooth, the transaction didn’t come without challenges. The COVID-19 pandemic presented considerable hurdles in finding the right tenant to lease the space,” said Nick Day. “When Matthews™ was presented with the listing in July, non-essential retail was closed nationwide, with no positive outlook ahead as states continued to enforce retail-closure mandates.”
Despite these challenges, Matthews™ was able to secure a site for a nationally-known tenant, Everything But Water. The boutique currently has 87 locations throughout the United States, with many located in beach towns. This property presented a perfect opportunity for the tenant to expand their presence in a market that complemented their core values. Beyond their storefronts, the brand is passionately committed to ocean conservation through their campaign “Water is Everything.” The new location for the swimsuit brand will allow them to serve customers in the Downtown Manhattan Beach community, a popular destination for families and outdoor enthusiasts. The tenant’s other Los Angeles-based locations include Brentwood, Malibu, and Marina Del Rey.
“Matthews™ leasing brokers are exceedingly knowledgeable about the current retail transformation, and we have the technological resources and company support to be effective,” said Michael Pakravan. “We were able to backfill the retail space at market value despite the mites of the COVID-19 Pandemic.”
The Matthews™ Retail Leasing Division represents top tenants such as La Macaron, Sweetfin, Great White, Gyu-Kaku, Blue Plate Taco, Mickey’s Deli, and more. Currently, Matthews™ has two similar retail locations for lease at 2700 Manhattan Avenue and 190 Hermosa Avenue. For tenant requirements, more information regarding this lease, or any other questions related to retail leasing, please reach out to Michael Pakravan or Nick Day.
Matthews Real Estate Investments Services™, the nation’s fastest-growing commercial real estate brokerage firm, holds recognition as an industry leader in investment sales, leasing, and debt and structured finance. Founded in El Segundo, CA, and strategically positioned with over 300 agents and support staff in over 10 offices across the United States, Matthews™ continues to focus on expansion into new markets. For more information, please visit www.matthews.com.
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