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8/01/23
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Work has been completed on a 31k sf, stand-alone grocery store in Los Angeles’ Los Feliz neighborhood on behalf of Lazy Acres Natural Market. For the Santa Barbara-based grocery store chain, the location is the firm’s sixth store in Southern California and the first in the City of Los Angeles.
The Lazy Acres market, located at 1841 N Western Ave, was developed by CGI+ Real Estate Investment Strategies (“CGI+”), is the culmination of more than three years of planning, land assemblage and development. The project started two months into the Covid-19 pandemic when CGI+ entered into separate contracts to purchase an existing 23k sf Rite Aid and two adjacent properties at the heavily trafficked intersection of Franklin and Western Avenues.
After reducing the existing building to its shell and core, CGI+ rebuilt the structure with 8.5k sf of new construction, and added a new parking lot to meet the specifications of Lazy Acres, which signed a long-term lease with CGI+. As part of the development CGI+ preserved a 1.7k sf building that once served as the studio for artist Mary Corita Kent. The “Pop Art Nun” was considered one of the great contributors to the Pop Art movement in Los Angeles. CGI+ participated in the community effort to have the building listed as a Los Angeles historic monument. The building has been leased by Motivate Studios for use as a fitness facility.
“As an owner of multiple properties in the area and a firm believer of investing in our communities, we saw an opportunity to bring to area residents the first grocery offering organic and healthy products,” said Andre Soroudi, Executive Vice President of Acquisitions and Development for CGI+. “Lazy Acres will be a great amenity for the Los Feliz neighborhood for decades to come.”
Lazy Acres Natural Market offers a wide variety of natural and organic grocery items, local, seasonal, and organic produce, full-service meat and seafood departments, bakery, coffee & juice bar, full-service deli and prepared foods, as well as an extensive selection of health supplements and beauty products.
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