Banana Republic Flagship Store Closing?

Banana Republic, along with Barnes and Noble, has long been considered the northern flagship of the Promenade, but according to several sources the GAP-owned company is looking to sublease its current space at the corner of Wilshire and 3rd Street. Though the 1200 block of the Promenade has always been quieter than the rest of the street, it still managed to attract many prominent retailers such as Mango, Apple, and J. Crew. At this point, it is not clear whether Banana Republic is leaving Santa Monica altogether or whether they are simply moving to a higher traffic space in the newly remodeled mall.