April 1, 2025

The Best Source of News, Culture, Lifestyle for Culver City, Mar Vista, Del Rey, Palms and West Los Angeles

Former West L.A. Vons store site sold for $37.5 million

The former Vons grocery store site at the corner of Santa Monica Boulevard and Barrington.
The former Vons grocery store site at the corner of Santa Monica Boulevard and Barrington. Photo: Google Maps

The former Vons grocery store site at the southeast corner of Santa Monica Boulevard and Barrington Avenue has sold for $37.5 million.

The commercial real estate sale in West Los Angeles was closed by Dawn Dyer and Paul Sheehan of Dyer Sheehan Group, Inc. (DSG) in Ventura, CA.

Dyer and Sheehan represented the buyer, United El Segundo, Inc., a Los Angeles-based, third-generation real estate investment and development firm. The seller, Vons Companies/Safeway, Inc., was represented by Tyler Stevens of Colliers International in Los Angeles. The sale was conducted via a competitive bidding process.

The approximately 2.64-acre commercial-zoned property comprises an entire city block along Santa Monica Boulevard between Barrington and Barry Avenues and borders Idaho Avenue on the south side. It was vacant at the time of the sale.

Previously, the lot was approved by the City of Los Angeles for development of a new Pavilions grocery store. Subsequent to city approval, Vons elected to sell the property and not pursue development of the Pavilions market.

“The Santa Monica/West Los Angeles market is undergoing a significant transformation, and has become known as ‘Silicon Beach; due to the influx of creative offices and high-tech start-ups, as well as the arrival of industry giants such as Google, Yahoo, AOL and YouTube,” said Dyer, president and co-founder of DSG. “Our buyer is a high net-worth individual who sold a multi-generational family-owned company that has been extremely successful for decades but is no longer able to effectively compete in the increasingly global, corporate-dominated economy.”

This buyer’s situation is consistent with a growing trend DSG is experiencing with increasing frequency over the past few years. As small to mid-size family-owned companies are being forced to merge with, or sell out, their interests to competing large corporations they are left to seek alternative investments from the equity from their companies and company-held real estate assets.

Dyer said the buyer felt strongly that Santa Monica Boulevard will be the next hot spot for redevelopment, much like the Wilshire Boulevard corridor just to the north.

“Los Angeles has long been a hot-bed of creativity and innovation, which is now giving the San Francisco Bay Area some serious competition in attracting entrepreneurial techies,” Dyer said. “Rents in Los Angeles are less expensive than in the Bay Area, the weather is better and people can surf before heading into the office.”

Paul Sheehan, DSG co-founder and CFO, conducted the development feasibility analysis for the buyer and agrees that this site has incredible potential.

“It is quite unusual, in a City like Los Angeles, for a developer to have the freedom to plan an entire city block,” Sheehan said. “We are very excited to see what United El Segundo decides to do with the property.”

in News
Related Posts

Mid-City Freeway Death Under Investigation After Caltrans Workers Find Blanket-Covered Body

April 1, 2025

April 1, 2025

Woman Discovered on 10 Freeway Shoulder Identified; CHP Launches Probe Caltrans workers discovered a woman’s dead body around 9:00 a.m....

Community Support Saves Beloved West Hollywood Café from Closure

March 31, 2025

March 31, 2025

Packed Tables and Emotional Messages Helped Keep the Doors Open Le Petit Four, the popular Sunset Boulevard café known for...

Egg Beaters Recalled Over Possible Chemical Contamination

March 31, 2025

March 31, 2025

Massive Liquid Egg Recall Includes California Shipments Cargill Kitchen Solutions is recalling approximately 212,268 pounds of liquid egg products after...

Los Angeles County’s Measure A Raises Sales Tax On April 1, And It’s No Joke

March 31, 2025

March 31, 2025

Santa Monica, West Hollywood, Culver City, and Malibu Will See Higher Increases Starting April 1, Los Angeles County residents will...

Robbery Boast on Instagram Helps Send Beverly Hills Heist Suspect to Prison

March 31, 2025

March 31, 2025

Flashy Post, Federal Time: Smash-and-Grab Mastermind Sentenced Ladell Tharpe, 39, received an 84-month sentence from U.S. District Judge George H....

Culver City Rolls Out Hi-Lo Siren to Warn Residents During Emergencies

March 31, 2025

March 31, 2025

Hi-Lo Warning System Activated: Culver City Adds New Evacuation Tool In an effort to strengthen emergency preparedness and public safety,...

Union Workers at UCLA to Strike April 1 Over Staffing Shortages, Labor Disputes

March 31, 2025

March 31, 2025

Healthcare and Research Staff at UC to Strike, Alleging Unfair Labor Practices More than 20,000 healthcare, research, and technical professionals...

School of Rock Students Shine in Winter Performance Despite Widespread Fires

March 31, 2025

March 31, 2025

Summer Camp Registration Opens Now By Susan Payne Wildfire devastation wreaked havoc in areas of Los Angeles this January with...

Full House Creator’s Cielo Drive Estate Returns With Massive Price Drop

March 30, 2025

March 30, 2025

Franklin’s Mansion, Once the Site of the Manson Tragedy, Back on Market Full House creator Jeff Franklin is returning to...

Santa Monica, Beverly Hills See Real Estate Shifts After L.A. Wildfires

March 30, 2025

March 30, 2025

Beverly Hills and Brentwood Listings Triple in Wake of January Fires Home sales and listings have shifted dramatically across Westside...

Deputies Open Fire on Suspect in West Hollywood, Triggering Street Closures

March 30, 2025

March 30, 2025

Suspect Shot by LASD in West Hollywood Domestic Violence Response Authorities are investigating a shooting that occurred Saturday evening in...

West Hollywood Resident Returns, Vandalizes Property, 30 Minutes After Eviction

March 30, 2025

March 30, 2025

“Neighbor From Hell” Tried to Re-Enter His Apartment and Damaged Property Valentino Lopez, a 41 year old, male Hispanic, was...

New Deadline, More Access: LA County Debris Program Expands Scope, Extends Signup

March 30, 2025

March 30, 2025

Officials Broaden Scope to Help More Residents, Encourage Early Submission Los Angeles County officials have announced that FEMA has agreed...

Judge to L.A. Leaders: ‘I Am Your Worst Nightmare’ in Scathing Homeless Spending Rebuke

March 28, 2025

March 28, 2025

Carter Warns of Court Intervention if City and County Fail to Fix Broken Systems U.S. District Judge David O. Carter,...

Mayor Karen Bass Texts Sent During the Palisades Fire Have Been Released

March 28, 2025

March 28, 2025

Newly Recovered Texts Were Recovered After Sharp Criticism Over Deletions As wildfires swept through Los Angeles in early January, Mayor...