Vroman’s Bookstore Site in Pasadena Acquired for $15.5 Million
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Vroman’s Bookstore sold the site of its independent bookstore for $15.5 million to GD Realty Group. The deal for the 55,854-square-foot site was brokered by Kidder Mathews amid uncertainty for the future of the business. Vroman’s closed a second store in Hastings Ranch last year.
Bookstore owner Joel Sheldon had previously announced retirement plans and expressed a desire to sell the 130-year-old business, which is expected to remain open.
GD Realty is an owner and operator of office and retail properties in Southern California. The company was founded in 2006 by Arash Danialifar and has acquired several properties in Pasadena over the past few years, including Ross on South Lake, the Laemmle Theater building on Colorado, Modern Animal and Healthy Spot on Colorado and the development of 645 E. Union, a 60,000-square-foot mixed-use building across the street from the future Playhouse Village Park.
Information for this article was sourced from Kidder Mathews.
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