E-Mart signs lease to open PK Market in downtown LA

Retail giant Shinsegae Group’s discount chain operator E-Mart said Friday that it has signed a lease in Los Angeles and will open its premium “grocerant” store-restaurant PK Market there in the second half of 2019.

According to the company, it has signed a 10-year lease for a 4,803-square-meter space occupying three floors of a six-story building at 712 South Olive Street in downtown Los Angeles. 

The site was originally built in 1917 as home to the Ville de Paris department store.

“PK Market epitomizes a growing trend for tenants in Downtown LA who demand unique space that speaks to their brand and identity while capturing an opportunity for corporate offices as well as outward-facing business goals,” said Mike Condon Jr., the real estate broker who represents the landlord in the transaction.

E-Mart said the first two floors will be dedicated to PK Market, while the third floor will be used as the company’s office. It will be the first PK Market store in the US.

“Following the signing of the lease, E-Mart will follow procedures step by step and put forth an all-out effort to achieve a successful entrance to the US market,” the company said in a statement. 

(ddd@heraldcorp.com)