Reliable Properties acquires four-acre Barnsdall Square Shopping Center in Los Angeles, CA

Barnsdall Square, a highly sought-after
 grocery/drug anchored retail center
 in Los Feliz, one of Los Angeles's
 premier neighborhoods. 

LOS ANGELES, CA – JLL Capital Markets brokered the sale of Barnsdall Square, a highly sought-after grocery/drug anchored retail center in Los Feliz, one of Los Angeles's premier neighborhoods. The price was not disclosed.

Jeff Adkison 

The transaction includes the acquisition of 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, and Reliable Properties acquired the property.

The JLL Retail Capital Markets team was led by Managing Directors Jeff Adkison and Bryan Ley alongside Senior Directors Rob McRitchie and Brendan McArthur.

Bryan Ley

Spanning over 6.3 acres, Barnsdall Square features a total of 92,000 square feet of leasable space, boasting a diverse tenant mix, including Jons Marketplace Grocery Store, Rite Aid Pharmacy and 22 other tenants.

 The property also provides a blank canvas for a value-add retail strategy or future redevelopment.

 

Strategically located along N. Vermont, Barnsdall Square enjoys excellent visibility and offers seamless connectivity to Hollywood Blvd. and Sunset Blvd along with convenient access to multiple nearby bus stops. 

The property is near major medical centers such as Kaiser Permanente Center, Hollywood Presbyterian Medical Center and the Children's Hospital Los Angeles. Additionally, set in the highly desirable neighborhood of Los Feliz, the center benefits from a strong demographic profile and unrivaled market appeal.

 

Brad Nourafshan

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 successfully assembling the Barnsdall Square Shopping Center from three different owners.

“The Barnsdall Square Shopping Center is a one-of-a-kind asset located in Los Feliz with great potential and we are happy to have worked with JLL to acquire the last portion of the shopping center,” said Brad Nourafshan. “JLL was an absolute pleasure to work with and are also very experienced in handling complicated transactions.”

 

"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. The sale of Barnsdall Square attests to the increasing demand for high-quality retail assets in this thriving neighborhood," said Adkison.

 

“Barnsdall Square has a long history of serving the needs of the local community and the region. The sale marks a new beginning for the asset and we look forward to seeing the future growth of the asset,” said Ley.

 

Reliable Properties’ plans for the 6.3 Acre Barnsdall Square Shopping Center are unknown at this time. Please contact Brad@reliableprop.com with any inquiries.

 

Aperture Hotels Names Patrick Short Chief Operating Officer

Patrick Short

 

 ATLANTA, GA —Officials of Aperture Hotels, a leading hospitality management provider specializing in premium lifestyle, compact full-service, and select-service hotels, announced Patrick Short has been named chief operating operator. 

 

 In his new role, Short will provide cross-disciplinary leadership and direct operational execution and commercial strategy for Aperture's expanding portfolio of 27 managed hotels.

Charles Oswald

“With more than thirty years of hospitality operations experience, Patrick is the perfect fit for Aperture’s growing portfolio to continue improving operations performance metrics across the board," said Charles Oswald, president and CEO, Aperture Hotels. 

 "From Wischermann Partners and TPG Hotels, Resorts & Marinas to Peachtree Group Hospitality Management, Patrick has helped scale operations at some of the most well-respected management companies in the hospitality industry.”

Prior to joining Aperture, Short was president of Peachtree Hospitality Management, where he led the company to rank among the top 15 largest hotel management firms in the U.S., expanding the portfolio from 27 to 100 hotels and more than 10,000 rooms with almost 3,000 team members.

 

Short received a degree in Hospitality and Tourism Management from The University of Wisconsin-Stout and an MBA in Finance from Argosy University – Twin Cities. He is a Certified Hotel Administrator (CHA) from the American Hotel and Motel Association and holds a Food Safety Certification.

 

 

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