Vroman's Bookstore has sold its building for $15.5 million to GD Realty Group, an owner and operator of office and retail properties in Southern California, the Los Angeles Times reported, adding that the deal for the 55,854-square-foot site was brokered by Kidder Mathews "amid uncertainty for the future of the business."
Vroman's owner Joel Sheldon put the store up for sale in January 2024, and closed his Hastings Ranch location in May of that year. When he announced that the 130-year-old Pasadena store was for sale, Sheldon said that as he was approaching his 80th birthday, "it was time to begin the process of retiring and finding new ownership outside the Sheldon family. Vroman's deserves new ownership with the vision, energy, and commitment necessary to take it successfully into the future.... This was not an easy decision for me, but it is in best interest of Vroman's, our employees, our customers, my family, and our community."
The bookstore is expected to remain open, the Times noted.