Vroman's Bookstore, Pasadena, Calif., "has secured its presence at the Colorado Boulevard location through a long-term lease signed in early October with the new property owner," Pasadena Now reported, adding that the lease "ensures Vroman's continued presence."
Earlier this week, the Los Angeles Times reported that the property housing Vroman's had been sold for $15.5 million to GD Realty Group, an owner and operator of office and retail properties in Southern California.
"We did sign a long-term lease with Vroman's upon the closing of the transaction so [we] don't see them going anywhere anytime soon," said GD Realty founder Arash Danialifar.
Joel Sheldon, chairman of AC Vroman Inc., confirmed to Pasadena Now that the bookstore "is under a long-term lease" when asked about the arrangements with the new property owner. He added that customers likely won't experience any changes in operations: "Not that I can anticipate. The answer is basically no, but you'd never know.... But we hope operations continue as they have been going along now for a number of years."
Plans to sell the bookstore business continue. Sheldon said the ideal buyer for the bookstore "would appreciate Vroman's unique legacy and its role as a central community resource in Pasadena. They would share the bookstore's core values, including a commitment to the community, respect for employees, and a passion for books," Pasadena Now wrote.
GD Realty's Danialifar noted: "Our vision is to hopefully keep the theater and Vroman's there for the foreseeable future.... Vroman's is a staple of the community… has been there for more than a 100 years! The name Vroman's has become synonymous with great customer service, cleanliness, the Vroman's Give Back program and an overall positive shopping experience.... We wish them success for another 100 years to come! Plus, I am an avid book reader and this is by far my favorite book store!"