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11 Months Later, Verdugo Pet Shop Property Still on Market

The former pet and feed shop has sat empty for nearly two years.

Nearly 11 months after being purchased by Brentwood-based investment company GPI, the former Verdugo Pet Shop property is still looking for a leasee.

Lee & Associates is now managing the listing of the 3,300-square-foot property, which closed in February 2011 following the death of longtime owner Hervey Chapman.

According to a brochure posted online by Lee & Associates, the owners are seeking between $2.25 and $2.50 per sq. foot for the property--between $7,425 and $8,250 per-month. 

The pet shop is also advertised as a "NNN" rental, meaning the renter would be expected to have a high credit rating and pay real estate, maintenance and insurance costs. 

Robert Bonanomi, who managed the listing for CBRE before it was transferred to Lee & Associates, said despite the price tag, there was considerable interest in the property.

"There was great interest, but we had some timing issues," Bonanomi said.

Bonanomi said he gave up the listing when his partner left CBRE.

In April of 2012, Bonanomi said a gourmet restaurant was among the property's suitors.

"We've heard from both retail and restaurants," Bonanomi said. "We're talking sit-down, gourmet restaurants."

David Fonseca November 19, 2012 at 04:18 PM
I've deleted Nimby's and MOG's comments. Let's refrain from personal attacks in the comments section, please.
The MOG November 19, 2012 at 04:41 PM
Thanks David!
Hooper Humperdink November 19, 2012 at 11:18 PM
I wanted to leverage everything I could at the time this place was up for sale, but the money required for a commercial property purchase meant that we'd be paying $5,000 to $6,000 a month - way out of reach for a bike shop (especially one with another bike shop just down the street). There is only one solution for this property: hipster swap meet. Every large commercial space in this area is subdivided by individual tenants. This place should be an incubator for different tenants trying their hand at retail/food services/crafts/whatever. The rents on 1,000 sq ft spaces will be just right for the downsizing bourgeoisie the area is filling with.
frankruby November 20, 2012 at 02:05 AM
Hipsters invasion great...
Elizabeth Ramirez November 21, 2012 at 08:30 PM
With the economy as bad as it is, we cannot afford these prices. This is Highland Park not Santa Monica or Melrose. The agent needs to get a reality check of what properties are really going for in our small area. It is a shame because it is a nice spot with lots of potential.

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