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Reliable Properties Acquires Grocery/Drug-Anchored Center in Los Feliz
JLL Capital Markets arranged the sale of Barnsdall Square, a grocery/drug anchored retail center in Los Angeles’ Los Feliz neighborhood. The transaction includes the 2.86-acre parcel on 1625 N Vermont Ave. and a partial interest in the 1.39-acre parcel on 1533 N Vermont Ave.
JLL represented the seller, DMDE Properties. Reliable Properties acquired the property.
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.
Spanning over 6.3 acres, Barnsdall Square features a total of 92,000 square feet of leasable space. It also provides a blank canvas for a value-add retail strategy or future redevelopment.
The JLL Retail Capital Markets team was led by managing directors Jeff Adkison and Bryan Ley alongside senior directors Rob McRitchie and Brendan McArthur.
“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,” said Adkison. “The sale of Barnsdall Square attests to the increasing demand for high-quality retail assets in this thriving neighborhood.”
- ◦Sale/Acquisition
