Reliable Properties Acquires Barnsdall Square Shopping Center In Los Feliz For $20.1M

The retail asset located at 1625 North Vermont Avenue and 1533 North Vermont Avenue in Los Angeles, spanning 4.4 acres, was sold for $20,100,000. The property encompasses 92,000 square feet with a price per square foot of $218. Reliable Properties acquired this shopping center, known as Barnsdall Square, which includes tenants like Jons Marketplace and Rite Aid.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $20,100,000
• Buyer: Jack Nourafshan & Brad Nourafshan - Reliable Properties
• Seller: DMDE Properties
• Brokers: Brendan McArthur, Bryan Ley, Jeff Adkison & Rob McRitchie - JLL
• Assets: 4.4 acres
• Square Footage: 92,000
• Price Per Square Foot: $218
• Date of Transaction: 08/12/2024

This transaction highlights the involvement of Reliable Properties in acquiring the Barnsdall Square Shopping Center, representing a significant move in their strategic real estate activities. The transaction was facilitated by JLL Capital Markets, which managed the representation of the property for DMDE Properties.