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IPA Closes Sale of Echo Park Retail to Optimus Properties
Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged the sale of Echo Park Village, a 21,876-square-foot retail center at 301-343 N. Glendale Blvd. in Los Angeles. It was acquired by Optimus Properties LLC in the company’s third retail acquisition in the Echo Park neighborhood and its second deal with IPA in the past year. Terms were not disclosed.
“This transaction underscores the growing investor demand for retail environments that feature experience-driven tenants and community-anchored spaces,” said Jose Carrazana, IPA director. “With its collection of innovative local tenants, Echo Park Village perfectly embodies the vibrancy and community spirit of the area.” Carranza arranged the sale with IPA executive directors Patrick Toomey and Tom Lagos.
Built in 1921 and renovated in 2019, Echo Park Village retains original concrete floors and exposed brick walls. Tenants include Gra Pizzeria, Clark Street Bread, One Down Dog yoga studio, Butchr Bar, The Strength Shoppe, Henrietta and A Good Used Book.
- ◦Sale/Acquisition
