The property involved in this transaction is located at 8100 Melrose Avenue in Los Angeles, which is identified as a retail asset. Aritzia has signed a lease for this site, previously known as Fred Segal's flagship store. The financial terms of the lease have not been disclosed.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: Not disclosed
• Address: 8100 Melrose Avenue
• Market: Los Angeles
• Tenant: Jennifer Wong & Brian Hill - Aritzia

The deal signifies Aritzia's strategic move to acquire the iconic Fred Segal brand and its intent to revitalize it into an experiential retail destination. This acquisition marks the fourth ownership change of Fred Segal since 2012, following different management periods. Aritzia is experiencing significant growth, reporting over $1 billion Canadian in quarterly revenue, which has increased by 43% year over year, indicating its confidence in expanding its presence, specifically in U.S. menswear.