The real estate developer and brokerage firm placed multiline retailer Reservoir, which comes to the project from Robertson Boulevard, in space previously occupied by multibrand retailer Curve. The 7,000-square-foot concept also includes Tom Dixon and café and wine shop Hayden.
“As you know, at Platform, we’re always experimenting with different things,” said Runyon cofounder Joey Miller. “We’ve always imagined this space as a mix of home, fashion and then a great café.”
Platform has been pointed to as a study of retail success by some via its experimentation with dedicated short-term leases. The concept shared by Tom Dixon, Reservoir and Hayden is envisioned to be more permanent, Miller said.
Still, the pop-up spaces appear to have served the project well with Platform having full occupancy for the past year now.
The company’s gotten creative in continuing to build out its tenant roster even with a shortage of real estate by using shipper containers to house barbershop The Byrd’s Nest and bike shop Pure Cycles, with both opening pop-ups earlier in the month.
“Having these rotating pop-ups keeps the consumer really excited when every time they’re coming back, there’s something new and interesting to discover,” Runyon cofounder David Fishbein said.
Meanwhile, businesses such as Poketo or Freda Salvador that may have initially signed short-term leases have since transitioned to longer-term deals. What’s worked and what hasn’t is not unique to Platform with the project mirroring the broader industry’s challenges and opportunities.
“What we found is that the tenants that came in for the pop-ups that really put their best foot forward from the get go and really have a thought to the merchandising and the design and tried to make it a success, succeeded,” Fishbein said. “The tenants that came in and just basically brought rolling racks and just expected their consumer to walk through the door and not have to do any fun events and activations just didn’t seem to resonate. Stores are really having to go above and beyond what they previously had to in order to keep the retail experience unique and compelling.…The tenants at Platform that have done really great have programming, created exclusive collaborations and have unique merchandise.”
Case in point: Reservoir is set to ring in its relocation to Culver City on Oct. 19, with a party to preview Opening Ceremony’s pre-spring 2018 collection.
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