An organic supermarket is now being prepared for the corner of Franklin and Western Avenues, at the site of a closed Rite Aid.
The final parcel of land has been purchased for a new branch of Lazy Acres Natural Market, an organic grocery store that tends to be compared with Whole Foods, in online reviews.
CGI+ Real Estate Investment Strategies and Megdal Investments said they have acquired a 24,000-square-foot, single-tenant retail property, the final piece of a 1.7-acre plot at the southwest corner of Franklin and Western avenues. This lies on the easternmost edge of Franklin Village, just across the street from Los Feliz.
Former Rite Aid will be expanded for Lazy Acres
The upscale grocery would replace the former Hollywood Rite Aid at that location. Renovations on the property have begun, and the store is expected to be delivered to the Lazy Acres tenant by the end of the year, according to a statement from spokespeople for CGI+. Renovations include adding 8,500 square feet to the structure, thereby increasing the building footprint by 30%.
The market plans to open for business next year with a variety of natural and organic grocery items, local, seasonal, and organic produce, full-service meat and seafood departments, a bakery, a coffee-and-juice bar, a full-service deli, prepared foods, health supplements, beauty products.
This will be Lazy Acres sixth location in Southern California, along with Hermosa Beach, Mission Hills, Encinitas, Long Beach, and its original location in Santa Barbara, where the company began in 1991.