The iconic, ivy-covered Fred Segal on Melrose will go down in retail history. The 29,000-square-foot building, which houses Fred Segal, Fred Segal protégés Ron Herman and Ron Robison, has been sold to investment firm CormackHill, LP for an undisclosed amount.
Global real estate investment and services firm Kennedy Wilson negotiated the sale of 8100 Melrose Ave.
“This was the first time in over 40 years that this high profile property had been on the market. We experienced incredible interest from all types of buyers—local to international and private capital to institutional,” said Ed Sachse, Kennedy Wilson executive managing director. “CormackHill was drawn to this property for its prime retail location in the famed Melrose Heights shopping district and iconic location as the original epicenter of high fashion in Los Angeles.”
Earlier this month, Fred Segal announced the closure of its Santa Monica store.