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8/13/24
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Reliable Properties has purchased Barnsdall Square, a highly sought-after, 92k sf grocery/drug-anchored retail center in L.A.’s Los Feliz neighborhood. The transaction includes the acquisition of the 2.86-acre parcel at 1625 N Vermont Ave and a partial interest in the 1.39-acre parcel at 1533 N Vermont Ave.
Spanning over 6.3 acres, Barnsdall Square boasts a diverse tenant mix, including Jons Marketplace Grocery Store, Rite Aid Pharmacy and 22 other tenants. The property also provides a blank canvas for a value-add retail strategy or future redevelopment.
Strategically located along N. Vermont, Barnsdall Square enjoys excellent visibility and offers seamless connectivity to Hollywood Blvd. and Sunset Blvd along with convenient access to multiple nearby bus stops. The property is near major medical centers such as Kaiser Permanente Center, Hollywood Presbyterian Medical Center and the Children's Hospital Los Angeles. Additionally, set in the highly desirable neighborhood of Los Feliz, the center benefits from a strong demographic profile and unrivaled market appeal.
Jeff Adkison, Bryan Ley,Rob McRitchie and Brendan McArthur with JLL Retail Capital Markets represented the seller, DMDE Properties, in the transaction. Reliable Properties’ plans for the asset were not immediately made known.
Reliable Properties had assembled the remaining portions of Barnsdall Square in multiple off-market transactions over the past year. Brad Nourafshan led Reliable Properties’ efforts in assembling the Barnsdall Square Shopping Center from three different owners.
"In a retail market that is witnessing a scarcity of quality spaces, Los Feliz stands out as one of the most sought-after destinations in Los Angeles. The sale of Barnsdall Square attests to the increasing demand for high-quality retail assets in this thriving neighborhood," said Adkison.
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