According to the reports Apple is all set to buy some real estate in Los Angeles (LA). The location of the store will hopefully be in the Historic Tower theatre in downtown Los Angeles (LA). The details regarding the area of the shop are still unclear. The company has not spoken anything about it completely. There are more than 2, 50,000 square feet of space available in the area where Apple is looking to set up their retail store.
It is also unclear on how much rent Apple will be paying for their shop. No such information has been revealed by the company. The exact location is revealed however the address where Apple is going to open the shop is also not spoken about. It is probably company’s planned surprise for the people. Lorena Tomb, a real estate investment firm agent Lang Lasalle said that Apple’s store in the market will have a positive effect on the complete market and their businesses.
The man made historic Tower Theatre was created in the year 1927. It is a 7,500‐square‐foot of theatre space with 7,500 space at the basement too. There are many street facing rented space available here which has been held by short term small retailers. Apple has been hunting space in LA from months and after a long journey of expedition they could finally come up for historic Tower Theatre. Apple’s ability to drive the traffic from the malls allows them to negotiate the rent at lower prices for the company stores. This isn’t the first store of Apple in LA certainly. Prior to this space some of the earlier stores includes retails stores at Americana at Brand, Glendale Galleria, Westfield Century City, Beverly Center, Third Street Promenade, Grove and finally on Colorado Boulevard in Pasadena. This is another investment of the company on another chosen exotic location.