An Italian clothing brand that is popular among teenage girls has moved to a larger space in Chicago’s Gold Coast, a luxury shopping district that has been in high demand in recent years.
Brandy Melville recently leased all 6,001 square feet in the building at 8-12 E. Walton St., according to one of the brokers who represented the tenant, John Vance of Stone Real Estate.
That is nearly three times the size of its previous space at 64 E. Walton St.
The seller of fashionable sweatpants, cardigans, sweatshirts, dresses and other items filled the former space of BHLDN, Anthropologie’s bridal-shop concept.
High-end retail avenues in the Gold Coast, also including Oak and Rush streets, have soared in recent years with tenants arriving from outside the market and in relocations from other Chicago corridors. That includes the likes of Chanel, Van Cleef & Arpels, Cartier and Bottega Veneta moving from the nearby Magnificent Mile.
“It just shows that the Gold Coast continues to perform in terms of sales numbers,” Vance said of Brandy Melville’s relocation and expansion.
Brandy Melville’s new space was the last vacancy on Walton Street for Acadia Realty Trust, the Rye, New York-based owner of several properties in the Gold Coast and in other Chicago retail corridors.
It adds to a run of recent leases in the city by the real estate investment trust, including a deal with New York streetwear brand Kith at 50-54 E. Walton St. and a large lease with Spanish clothing retailer Mango nearby at 664-670 N. Michigan Ave. on the Magnificent Mile.
During a call with analysts in late October, Acadia executives hinted at the Brandy Melville deal without naming the tenant. A.J. Levine, the REIT’s senior vice president of leasing and development, said a deal for its final Walton Street space was expected to be “signed in the coming days.”
Brandy Melville did not immediately respond to a request for comment from CoStar News on Monday.
Customers were lining up outside the new Brandy Melville shop before it opened Monday morning.
The Gold Coast is the only Illinois location for Brandy Melville, which was founded in Italy in the 1980s and now has shops throughout the country.
Brandy Melville and its founder, Stephan Marsan, have faced controversy because the brand sells clothing in one small size, which critics have said promotes an unhealthy body image for women. That policy, along with allegations of mistreatment of employees and other indiscretions, were outlined in a recent HBO documentary called “Brandy Hellville & The Cult of Fast Fashion.”
For the Record
Brandy Melville was represented by local broker John Vance of Stone Real Estate and the retailer’s national representative, Mike Schaffer of Schaffer & Associates. Acadia was represented by Canvas Real Estate brokers Anthony Campagni and Elan Rasansky.