JLL Capital Markets arranged the sale of Barnsdall Square, a grocery and drug store center in the Los Feliz neighborhood of Los Angeles. The transaction includes the 2.86-acre property at 1625 N Vermont Ave. and a partial interest in the 1.39-acre property at 1533 N Vermont Ave.
JLL represented the seller, DMDE Properties. Reliable Properties acquired the property.
Reliable Properties had acquired the remaining portions of Barnsdall Square in several off-market transactions over the past year. Brad Nourafshan led Reliable Properties’ efforts to acquire Barnsdall Square Shopping Center from three different owners.
Spanning 6.3 acres, Barnsdall Square offers a total of 92,000 square feet of rentable space. It also provides a blank canvas for a value-added retail strategy or future redevelopment.
The JLL Retail Capital Markets team was led by Managing Directors Jeff Adkison and Bryan Ley, and Senior Directors Rob McRitchie and Brendan McArthur.
“In a retail market where there is a shortage of quality space, Los Feliz stands out as one of the most desirable destinations in Los Angeles,” said Adkison. “The sale of Barnsdall Square is a testament to the increasing demand for high-quality retail properties in this thriving neighborhood.”
