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Apple Has Reportedly Finally Signed A Lease For That Downtown Store

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The historic Tower Theatre in DTLA will host a new Apple store. (Photo by Luxehotelier via the LAist Featured Photos pool on Flickr)
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Rumors have been swirling for over a year that downtown L.A. might finally be getting its very own Apple store, but the dream is officially on its way to becoming reality. Apple recently signed a lease to move into the Tower Theatre building at 8th and Broadway, downtown real estate guru and blogger Brigham Yen reports. The Tower Theatre is a 7,500-square foot historic structure designed by architect S. Charles Lee in 1927.

Yen called Apple's partnership with the Tower Theatre a "done deal" citing "a few reliable sources" who claim more details will be revealed soon about Apple's presence in the Historic Core.

The presence of a flashy new Apple store is a mixed blessing for downtown L.A., as some suggest it could drive up real estate prices in the neighborhood. "“If you have a retailer like Apple that comes to Broadway, everyone else will follow,” Jones Lang LaSalle agent Lorena Tomb told the Los Angeles Business Journal in May of last year, adding, “It’s going to push rents up, and it’s going to change the entire street.” (Though we are pretty sure that part of downtown is already pricey AF).

There's no official date yet as to when our nefarious corporate overlord Apple will grace downtown L.A. with its presence, but hey, here's to shattering your phone screen at Grand Central Market without having to schlep all the way to Glendale for repairs.