Fred Heyman on Rodeo, Rick Caruso at The Grove, Fred Segal at, well, Fred Segal. L.A.’s shopping world wouldn’t be the same without these well-known retailers. But one person is gaining similar influence when it comes to reshaping retail in Los Angeles: mega-real estate agent Jay Luchs, whose done deals across town for almost every fashion brand in the style universe. If you drive anywhere in Los Angeles, you’ve undoubtedly seen the mega-agent’s “for lease” signs (he has more than 50 active retail listings) all over West Hollywood and beyond. Two years ago, he made one of his biggest deals ever, brokering the sale of 319-323 North Rodeo Drive in Beverly Hills to luxury conglomerate LVMH for $85 million, representing both buyer and seller. The swap set a record in Los Angeles County at the time for the highest price ever paid per square foot — $11,971 — for commercial real estate. One of his most recent deals was the leasing of the former Tower Records building on Sunset to Gibson Guitars. “I’m really proud of that deal because of the iconic nature of the building. I represented the landlord on the deal, and we ended up having multiple offers including one from Gagosian Gallery. The Gibson one just felt like the right vibe given the relationship with the music industry and with West Hollywood. Notice those guitars up and down Sunset? Those are donated by Gibson.”
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