Institutional Property Advisors Brokers the Sale of Echo Park Village
October 22, 2025
LOS ANGELES, Oct. 22, 2025 - Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE: MMI), dedicated to serving the company’s institutional clients, announced today the sale of Echo Park Village, a 21,876-square-foot retail center in Los Angeles, California. Acquired by Optimus Properties LLC, the sale is Optimus’s third retail acquisition in the Echo Park neighborhood, and the second acquisition the company has completed with IPA in the past year. In December 2024, Optimus purchased Home Ranch Commons, a 60,703-square-foot retail/medical center located at 18601-18653 Yorba Linda Blvd.
“This transaction underscores the growing investor demand for retail environments that feature experience-driven tenants and community-anchored spaces,” said Jose Carrazana, IPA director. “With its collection of innovative local tenants, Echo Park Village perfectly embodies the vibrancy and community spirit of the area.”
Patrick Toomey, IPA executive director, added: “We’ve sold every shape and size of retail, from power centers to local boutiques. What sets Echo Park Village apart is a tenant mix that knows how to respond to the market. Whether it’s an independent operator or a recognized brand, adaptability is what keeps a center relevant. Optimus Properties LLC’s continued investment in Echo Park is indicative of a broader trend toward urban retail revitalization and the market’s appetite for authentic community- driven retail ecosystems that offer something special to residents and visitors.”
Tom Lagos, executive director, IPA, noted: “There’s no substitute for great positioning and fundamentals. Echo Park Village is a case in point: relevant today and set up for tomorrow by its location in a corridor that is experiencing rapid multifamily development.”
Built in 1921 and renovated in 2019, Echo Park Village retains original concrete floors and exposed brick walls. The center is located within a mile of Sunset Boulevard at 301-343 N Glendale Blvd., which sees more than 28,000 cars per day. The property’s tenants include Gra Pizzeria, Clark Street Bread, One Down Dog yoga studio, Butchr Bar, The Strength Shoppe, Henrietta, and A Good Used Book.
“This transaction underscores the growing investor demand for retail environments that feature experience-driven tenants and community-anchored spaces,” said Jose Carrazana, IPA director. “With its collection of innovative local tenants, Echo Park Village perfectly embodies the vibrancy and community spirit of the area.”
Patrick Toomey, IPA executive director, added: “We’ve sold every shape and size of retail, from power centers to local boutiques. What sets Echo Park Village apart is a tenant mix that knows how to respond to the market. Whether it’s an independent operator or a recognized brand, adaptability is what keeps a center relevant. Optimus Properties LLC’s continued investment in Echo Park is indicative of a broader trend toward urban retail revitalization and the market’s appetite for authentic community- driven retail ecosystems that offer something special to residents and visitors.”
Tom Lagos, executive director, IPA, noted: “There’s no substitute for great positioning and fundamentals. Echo Park Village is a case in point: relevant today and set up for tomorrow by its location in a corridor that is experiencing rapid multifamily development.”
Built in 1921 and renovated in 2019, Echo Park Village retains original concrete floors and exposed brick walls. The center is located within a mile of Sunset Boulevard at 301-343 N Glendale Blvd., which sees more than 28,000 cars per day. The property’s tenants include Gra Pizzeria, Clark Street Bread, One Down Dog yoga studio, Butchr Bar, The Strength Shoppe, Henrietta, and A Good Used Book.
# # #
About Institutional Property Advisors (IPA)
Institutional Property Advisors (IPA) is a division of Marcus & Millichap (NYSE: MMI), a leading commercial real estate services firm in North America. IPA’s combination of real estate investment and capital markets expertise, industry-leading technology, and acclaimed research offer customized solutions for the acquisition, disposition and financing of institutional properties and portfolios. For more information, please visit www.institutionalpropertyadvisors.com.