Retail King – Los Angeles Business Journal

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Red and white “For Rent” signsMany open storefronts in Los Angeles, especially the luxury neighborhoods of Beverly Hills, West Hollywood, and Malibu. Jay LuchsHis name is printed on these signs all over the city. But who is he?

Born in the realm of real estate, the grandson of the founder Shannon and LuchsOne of the largest Washington, D.C.-based real estate firms of the 20th century, Luchs wanted to do what many successful business owners do – make a name for themselves.

“When I was a kid, I didn’t want to do what my father did,” Luchs said. “I wanted to be known for doing my own work.”

Awaiting a career in entertainment, Luchs moved to Los Angeles in 1995 to pursue an acting career. Finally, he got a job as a mail assistant at an international talent agency that is now known as William Morris effortIt only took him two weeks before he decided that the world of entertainment was not for him.

Only then did he find himself interested in real estate, but how did he separate himself from his family?

“My focus is on representing brands,” Luchs said. “I have a passion for luxury fashion brands. I’ve done deals all over Los Angeles, but anywhere there’s people, traffic, restaurants, retail, that’s my passion.”

His own name

It all started in 2001 when Luchs left WME for a new hire. Label/ESGThe New York-based real estate company was later acquired by CBRE Group Inc.

“In 2003, I drove past the former Tommy Hilfiger corner on Rodeo Drive,” Luchs said. “It’s been sitting for three years. They’ve been paying rent and nobody’s evicting them.

Although his firm was only selling properties at the time, Luchs pleaded with his superiors to let him find a new tenant to fill the lease. The chiefs finally surrendered.

“We became Tommy Hilfiger’s agent to get them out of their lease,” Luchs said.

He began cold calling high-end fashion brands around the world to gauge their interest in the space. “I couldn’t believe as a young broker that I had a listing on Rodeo Drive.”

Ultimately, Brooks Brothers signed a 10-year lease on the 18,000-square-foot space, securing the Luchs’ job.

“I didn’t make much (money) from that one deal,” Luchs said. “But it really guided my future.”

He found individuality on the field. And as his customers grew, so did he.

Lynx to luxury

Conductor: Jay Luches in his Beverly Hills office. (Photo by Thomas Wasper)

In 2013, Luchs joined a New York City-based commercial real estate firm Newmark Group Inc. He was instrumental in the creation of some of the most contemporary avenues in Los Angeles, including Rodeo Drive, Melrose Avenue and Abbot Kinney Boulevard, and now works as a top-producing agent.

“I like to think that I’m part of a lot of innovation in streetscapes,” Luches said. “Today, if you told me a fashion brand was going to open somewhere in Los Angeles and I didn’t know about it, I’d be very upset with myself.”

He has represented some of the world’s most famous fashion brands, including for their retail and office space. LVMH, KITH, James Percy, Fred Segal, Acne studios, Hello yoga, Kitson, Bottega Veneta, Aviator nation and others.

“I love when Los Angeles gets great new brands because it’s good for everyone,” said Luchs, adding that Los Angeles plays a big role in the fashion scene, especially because of the proliferation of social media.

One of the most memorable leases was earlier this year. High. The brand replaces the former Tower Records location at 8801 Sunset Blvd, a historic building that Luches previously sold following bankruptcy filings.

“The torch has been passed to a good tenant who can afford the rent and is creditworthy,” he said.

Beyond fashion, Luchs has found restaurant locations Craig in West Hollywood, Avara In Beverly Hills and Tao Lao Restaurant At sunset.

In the year In 2014, he started selling houses with a partner Steven Shaffer. Together, they represent celebrities including Simon Cowell And justin bieber.

Luchs has been involved in some pretty big office and hotel deals, including representing LVMH in its $200 million purchase of the 2021 Luxe Hotel on Rodeo Drive, and previously representing LVMH on Rodeo Drive and Beverly Drive in four properties worth $465 million. It was intended to be a Cheval Blanc hotel, but the development was ultimately rejected by voters.

Still, Luch is optimistic about the area’s future. As far as the fate of Rodeo Drive goes, Luchs said the road has “never been better.”

Business owner

Swag: Jay Luches’ ‘For Lease’ Personal Merchandise Line. (Photo by Thomas Wasper)

Luchs’ “For Lease” signs have become such icons. His friend started printing on hats and caps, joking about their popular nature, and now distributes them through his own business line.

It has started collaborating with such brands. Your air And Prince Street PizzaNoting that collaborations and celebrity endorsements play an important role in strengthening product value.

“All brands, especially luxury ones, want the right people to wear their products,” Luchs said. The most popular talents in music and entertainment and sports (on social networks), it is important for them to wear their products because people often follow what they do.

And after years of finding new homes for retailers and learning the ins and outs of the fashion business, Luchs finally decided to open his own store. California trend.

Swag: Jay Luches’ ‘For Lease’ Personal Merchandise Line. (Photo by Thomas Wasper)

“They were things I wanted to do in my life,” Luchs said. “And now that I’m 51, if I don’t do it now, I never will.

Luchs is creating a store with a business partner Kelsey Chapman And will open in Malibu in October, featuring photography books and their own California beach-inspired fashion line.

“I think real estate is a lot cooler[than it used to be],” Luchs said. “I feel lucky to have fallen into retail.”

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