CGI+ Real Estate Investment Strategies has delivered its first standalone retail development, a 31,000-square-foot grocery in Los Angeles’ Los Feliz neighborhood, to tenant Lazy Acres Natural Market. Located at 1841 N Western Ave., it is the sixth store for the Santa Barbara-based grocery purveyor in Southern California and the first within city limits of LA.
Andre Soroudi, EVP of Acquisitions and Development for CGI+, commented on this opportunity: “As an owner of multiple properties in the area and a firm believer investing in our communities, we saw an opportunity to bring organic and healthy products to local residents with Lazy Acres being a great amenity for decades.”
The development also included preserving 1,740 square feet that once served as studio space for artist Mary Corita Kent – known as one of Pop Art’s greatest contributors from LA. CGI+ participated alongside community members who sought historic monument status from The City Of Angels.
This addition expands CGI+’s presence further into Los Feliz which already includes Villa Carlotta (50 unit extended stay rental property), The James (75 unit multifamily property), The Baxter (86 units scheduled completion later this year) ,Los Feliz Bliss (78 units apartment building) plus entitlements underway at Franklin & Cahuenga corner with 248 units across 22 stories slated .
