19 Nov Businesses and Residents Alike Continue their Love Affair with Northeast Los Angeles
After being in business since 1980, E.T.Y. Parts Inc., a European and Asian Foreign Auto Parts company finally calls it quits. Allen Yap along with his family sold its 5,138 sq ft retail commercial building located at 2144-2146 Colorado Boulevard to a young energetic entrepreneur, Mike Riboli for an undisclosed amount, all-cash deal. Desiring to pursue other business interests and spend more time with his family, Allen felt it was the right time to sell. This was a great decision, given today’s competitive real estate market.
The demand for commercial property along Colorado Boulevard is at an all-time high according to Mike Tolj, founder of Tolj Commercial Real Estate, who represented the Yap Family. The lack of inventory for commercial property, as well as the changing demographic, make Eagle Rock the ideal location for new businesses to establish roots, whether by lease or purchase. Eagle Rock is seeing an upgrade and expansion of the area, which benefit the local community, the businesses, old and new, and the City of Los Angeles (the more businesses thrive, the more sales tax comes into the city).
Business owners who have recently purchased or leased property here in Eagle Rock and other parts of Northeast Los Angeles (NELA) are excited about their futures in this vibrant and growing community.
One such business owner is Shannon Bedell who lives in the Mount Washington area of NELA. Ms. Bedell, having lived for some time in Australia decided to open a boutique featuring Australian products. Her shop, situated on a trendy part of Eagle Rock Blvd, is called Blue Heeler Imports. “I looked for eight months all over West Los Angeles for a retail space, but I finally decided that Eagle Rock was an up-and-coming commercial district,” she said. “I’ve definitely noticed an influx of industry people shopping at my store, and it feels good to invest in my own community.”
As for Mike Riboldi, one of the newest members of our business community; with renovation plans underway, Mike looks forward on developing a unique stylish restaurant, which will capture the elegance, modernity, and spirit of Eagle Rock.
Whether you are renewing a lease or interest in buying, selling or leasing in the Northeast Los Angeles area, give me a call and I can help guide you through the process and help you avoid the pitfalls and errors that are a natural part of lease renewals and other real estate transactions.
“Let us help you make an informed real estate decision on your next transaction. Whether you’re buying, selling or thinking of leasing commercial space or just have a few questions that need immediate answering, give us call. We are here to help you make the right move”.
Mike Tolj (323) 258-4946