CW Retail - Food Halls Report

Grand Central Market

G rand Central Market is easily the hottest new food hall project in the sprawling metropolis of Los Angeles. “New” could be a misnomer: The market has actually been in continuous operation since 1917, but it wasn’t until it was acquired by developer Ira Yellin in 1984 that the project began to really evolve. That evolution has been kicked into high gear over the past few years, with Grand Central Market going through an extensive process of re-tenanting and revamping its image as it attracted a new generation of young food entrepreneurs to its historic space. The explosion of multifamily growth in downtown Los Angeles over the past five years has radically changed the local landscape as new residents (mostly millennial) have moved into the area and

recast projects like Grand Central Market to their preferences. The change has been so notable that, despite the fact that the market has been in operation for 99 years, it was named Travel + Leisure Magazine as one of the World’s Best New Food Hall projects for 2016. Grand Central Market currently boasts 35 food and drink vendors, with notable inclusions like Sticky Rice’s Thai street food (which now occupies two locations in the market), Anya Fernald's Belcampo butcher shop and food stand, the provocatively-named Eggslut, as well as purveyors including The Oyster Gourmet, La Tostaderia and others. The lines at lunchtime can be extremely long, but based on the crowds, well worth it.

CUSHMAN & WAKEFIELD

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