LOS ANGELES — Shoe Palace has opened four new stores within the Los Angeles area. The new stores include a 4,460-square-foot store at 7721-7725 Melrose Ave., which was leased from 499 Canon LLC; a 4,945-square-foot space at 214 Santa Monica Blvd. in Santa Monica, leased from Schrober Investments; a 14,800-square-foot store at 6351-6353 Pacific Blvd. in Huntington Park that was purchased from Fine Discounts; and a new store on Van Nuys Boulevard in Panorama City that is currently in escrow. It is scheduled to open by the end of the year.
The combined sales and lease transactions for all four properties total more than $8 million. Shoe Palace is owned and operated by the Mersho family. The retailer was represented by Irwin Hyman and Jesse Paster of NAI Capital’s Encino office.