Eagle Group Finance

The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
December 18, 2018
 Search RENTV
 Video Programs
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

Printer-friendly Version   Email an Associate
Retail Asset in LA’s Glassell Park Neighborhood Acquired as a Value-Add Opportunity


Verdugo Plaza, three retail buildings totaling 21.9k sf of space in northeast Los Angeles, traded hands in a recent $6.2 mil ($283/sf) transaction. The buyer was Coda Equities, a Los Angeles-based real estate investment firm.

Verdugo Plaza is located at 3322 Verdugo Rd and 2614 Arthur St, just east of Eagle Rock Blvd and the 2 Fwy in the Glassell Park area. Two buildings have undergone reconstruction in recent years.

With the property’s current occupancy at 53%, the acquisition presents a value-add opportunity to improve, revitalize, and modernize the center, which caters to the needs of the changing local community.

Karol Le of CBRE represented the buyer and the seller, a private trust, in the deal.

“This center serves as a destination for millennials, artists, writers, musicians, hipsters and working class of the Glassell Park community,” said Le. “It’s irreplaceable and fills an important role in this neighborhood.”

Verdugo Plaza is situated about a mile from the highly anticipated Los Angeles City “Crown Jewel” acquisition site known as G2; a 41-acre parcel along an 11-mile stretch of the LA River that offers strong future value, habitat and redevelopment potential.

The outlook for the Greater Los Angeles retail market remains steady over the next 12 months, according to CBRE’s latest quarterly report. Momentum gained over the last few years is likely to level. Vacancy levels are projected to move up slightly throughout 2018, while rental rate growth is also expected to increase gradually over the next four quarters.

Return to the Archive page





Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2018 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media