Vons Sells Silverlake/Los Feliz Location to Children's Hospital Los Angeles for $90 Million

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CalItalian
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Re: Vons Sells Silverlake/Los Feliz Location to Children's Hospital Los Angeles for $90 Million

Post by CalItalian »

klkla wrote: October 2nd, 2018, 12:33 pm
CalItalian wrote: October 1st, 2018, 10:23 pm The Vons is NOT in Hollywood. Hollywood is west of the 101. Hollywood Blvd. STARTS in front of the Vons breaking off from Sunset. That is where Los Feliz and Silverlake start. Little Armenia/East Hollywood is to the west of the Vons.
Actually you are wrong. It is in Hollywood:

Screen Shot 2018-10-02 at 12.23.13 PM.png

Close up:

Screen Shot 2018-10-02 at 12.29.55 PM.png

There was actually a controversy when the store was remodeled and the neighborhood association even required that they put 'Hollywood' on the sign outside:

https://www.google.com/maps/place/Vons/ ... 118.287983
Actually YOU are wrong. It is NOT Hollywood. Stick to CITY OF LOS ANGELES maps. https://cd13.lacity.org/maps
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Re: Vons Sells Silverlake/Los Feliz Location to Children's Hospital Los Angeles for $90 Million

Post by klkla »

CalItalian wrote: October 27th, 2018, 11:52 pm
Actually YOU are wrong. It is NOT Hollywood. Stick to CITY OF LOS ANGELES maps. https://cd13.lacity.org/maps
Did you even zoom in to the map on the page you referenced? It's clearly in East Hollywood NOT in Silverlake or Los Feliz.

Screen shot from CITY OF LOS ANGELES MAPS. I marked the property in question with a red X:
la-map.jpg
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Re: Vons Sells Silverlake/Los Feliz Location to Children's Hospital Los Angeles for $90 Million

Post by klkla »

klkla wrote: October 1st, 2018, 5:06 pm
pseudo3d wrote: September 30th, 2018, 11:17 pm The Albertsons store to the north is pretty small on a tight lot. It looks like it was a Lucky. I think that Albertsons wants to keep the Vons alive as long as they reasonably can, though, otherwise they would've closed it in a hurry. The $90 million price tag probably is worth it as it essentially locks in the land value without having it go up further in the future, and keeps it open for future development, even if the return on investment is pretty poor.
Albertson's is bigger than it looks. I would guesstimate it at around 35,000 sq. ft. The aisles are very long which distorts how big it appears. According to the article the Vons is 43,500 sq. ft. The big difference is demographics. The neightborhood gets progressively wealthier to the north of that Vons and progressively poorer to the South.
I was curious about the actual size of the two stores and did some research.

Albertsons
Built in 1962 and is 37,656 sq. ft with 130 parking spaces (shared with two small restaurants. 2,000 sq ft built in 1969)
Recent single family home sales in the neighborhood were $1,900,000 to $4,300,000

Vons
Built in 1963 and is 43,526 sq. ft. with 172 parking spaces (not shared)
Recent single family home sales in the neighborhood were $625,000 to $1,019,000
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Re: Vons Sells Silverlake/Los Feliz Location to Children's Hospital Los Angeles for $90 Million

Post by storewanderer »

klkla wrote: October 28th, 2018, 4:44 pm
klkla wrote: October 1st, 2018, 5:06 pm
pseudo3d wrote: September 30th, 2018, 11:17 pm The Albertsons store to the north is pretty small on a tight lot. It looks like it was a Lucky. I think that Albertsons wants to keep the Vons alive as long as they reasonably can, though, otherwise they would've closed it in a hurry. The $90 million price tag probably is worth it as it essentially locks in the land value without having it go up further in the future, and keeps it open for future development, even if the return on investment is pretty poor.
Albertson's is bigger than it looks. I would guesstimate it at around 35,000 sq. ft. The aisles are very long which distorts how big it appears. According to the article the Vons is 43,500 sq. ft. The big difference is demographics. The neightborhood gets progressively wealthier to the north of that Vons and progressively poorer to the South.
I was curious about the actual size of the two stores and did some research.

Albertsons
Built in 1962 and is 37,656 sq. ft with 130 parking spaces (shared with two small restaurants. 2,000 sq ft built in 1969)
Recent single family home sales in the neighborhood were $1,900,000 to $4,300,000

Vons
Built in 1963 and is 43,526 sq. ft. with 172 parking spaces (not shared)
Recent single family home sales in the neighborhood were $625,000 to $1,019,000
That Albertsons sounds like a good Pavilions conversion. Limited parking is probably a challenge.
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Re: Vons Sells Silverlake/Los Feliz Location to Children's Hospital Los Angeles for $90 Million

Post by Bagels »

The Albertsons in Lake Forest has a huge sign on the door, providing notice of a public hearing on the proposed change in ownership. I ponder if this is park of the package of stores Albertsons agreed to sell last year, or if it continues to sell off its real estate (hello, Sears).

Would be a shame to lose the Lake Forest location — this is one of the last remaining original Lucky markets in Orange County, dating back to the ‘70s. It has the SuperValu interior packag that I like to call “2010s Twist on a Classic 1980s Grocery Store.”
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