Grocery-Anchored Embassy Plaza Trades for $20.3M in North Hollywood

A Los Angeles-based family office has acquired Embassy Plaza, a 70,121-square-foot grocery-anchored retail center in North Hollywood, for $20.3 million in a value-add play on one of the San Fernando Valley's busiest commercial corridors.

JLL Capital Markets negotiated the transaction at 6050-6140 Lankershim Boulevard. The property is currently 67% leased, presenting significant upside for the buyer through lease-up of vacant space. The seller was a private entity.

Necessity-Based Retail Anchoring

Embassy Plaza is anchored by Superior Grocers, with additional tenants including Starbucks, T-Mobile, and Little Caesars. The center benefits from North Hollywood's dense residential population and proximity to major Valley transportation corridors.

"Grocery-anchored retail centers remain particularly attractive to investors seeking well-performing, necessity-based retail assets," said JLL's Daniel Tyner, who led the transaction alongside Gleb Lvovich and Geoff Tranchina.

Value-Add Opportunity

At 67% occupancy, the property offers roughly 23,000 square feet of leasable space to fill — a meaningful spread that attracted the family office buyer. Grocery-anchored centers with below-market occupancy have been among the most sought-after retail investment opportunities as institutional and private buyers target the stability of essential-service tenants while capturing lease-up upside.

The sale adds to a growing list of recent investor activity in Los Angeles retail, where neighborhood centers anchored by grocery and daily-needs tenants have outperformed other retail formats. JLL's Embassy Plaza sale at approximately $290 per square foot reflects pricing consistent with value-add retail deals across the metro.