This could be the most exciting announcement for retail news in Downtown LA this year (and we’ve had a lot of heavy hitters including Nordstrom Rack and 3.1 Phillip Lim). It really looks like DTLA will finally get what its been clamoring for. According to a few reliable sources I’ve spoken to, the world’s most popular tech brand, Apple, has officially signed a lease to take over the historic Tower Theatre at 8th and Broadway in the Historic Core.

It’s been almost two years since DTLA Rising first reported the rumor that the Tower Theatre would become Apple’s new Los Angeles flagship store. Since then, a report from the LA Business Journal confirmed our rumor that Apple was, indeed, in talks with the Tower Theatre’s owner, the Delijanis.

However, another year and a half had gone by without any further updates regarding Apple going into the Tower, which led many to believe the deal either fell apart or that Apple would likely open somewhere else in downtown, if at all. (Another location they apparently checked out was The Bloc over in the Financial District.)

Now, according to a few sources who wish to remain anonymous, Apple going into the Tower is a “done deal.” With a signed lease in place, more specific details may be revealed “soon” regarding how Apple plans to incorporate its new store design into the existing Tower Theatre, which includes 7,500 square feet of ground floor theater space with another 7,500 square feet of basement space. Still unclear is how much of that will become actual sales floor space.

Built in 1927, the ornate Tower Theatre designed by S. Charles Lee was the first movie palace in Downtown LA to be wired for sound films. Given the amazing architecture of the historic structure, this will become one of the most unique Apple Stores in the world, which will become a huge draw for both Angelenos and tourists alike (and that’s great news for the future of Broadway retail). Apple will become the third retailer in DTLA to reuse a historic theater as a retail space, joining Urban Outfitters taking over the Rialto Theatre next door and H&M’s upscale COS taking over the Olympic Theatre just down the street.

Take a tour inside the Tower Theatre, click here.

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