JLL Capital Markets has successfully facilitated the sale of Barnsdall Square, a retail center anchored by a grocery and drug store in Los Angeles’ popular Los Feliz neighborhood. The transaction includes two parcels of land: a 2.86-acre parcel located at 1625 N Vermont Ave and partial ownership of a 1.39-acre parcel at 1533 N Vermont Ave.
The seller, DMDE Properties, was represented by JLL while Reliable Properties acquired the property.
Reliable Properties strategically acquired the remaining portions of Barnsdall Square through off-market transactions over the past year with Brad Nourafshan leading their efforts to assemble the shopping center from three different owners.
Barnsdall Square spans over 6.3 acres and offers approximately 92,000 square feet of leasable space. With its prime location in one of LA’s most desirable neighborhoods, it presents an opportunity for value-add retail strategies or future redevelopment projects.
The JLL Retail Capital Markets team responsible for this successful sale was led by managing directors Jeff Adkison and Bryan Ley alongside senior directors Rob McRitchie and Brendan McArthur.
According to Adkison: “In today’s competitive retail market where quality spaces are scarce, Los Feliz stands out as one of LA’s most sought-after destinations.” He added that this recent sale is evidence that there is high demand for top-notch retail assets in this thriving neighborhood.
