Lululemon Athletica Inc. has signed a long-term lease to move into a prime Third Street Promenade location in Santa Monica, CA.
The building, locally known as Promenade Gateway, occupies a key location on the corner of Third Street and Broadway, directly across from the renovated Santa Monica Place Shopping Center.
“We welcome Lululemon to our property on the 3rd Street Promenade, one of the world’s most famous shopping streets,” said Mehdi Soroudi, a principal partner with privately held Maxxam Enterprises, which acquired the shopping center in 2003. “Santa Monica is a symbol of Southern California healthy living and we believe Lululemon is an ideal fit for our property.”
Soroudi added that a renovation of the façade of the property is currently underway. Lululemon expects to open its 6,400-square-foot store in 2014. Promenade Gateway, originally known as Janss Court, was built in 1989.
