11 Months Later, Verdugo Pet Shop Property Still on Market

Nearly 11 months after being purchased by Brentwood-based investment company GPI, the former Verdugo Pet Shop property is still looking for a leasee.

Lee & Associates is now managing the listing of the 3,300-square-foot property, which closed in February 2011 following the death of longtime owner Hervey Chapman.

According to a brochure posted online by Lee & Associates, the owners are seeking between $2.25 and $2.50 per sq. foot for the property--between $7,425 and $8,250 per-month. 

The pet shop is also advertised as a "NNN" rental, meaning the renter would be expected to have a high credit rating and pay real estate, maintenance and insurance costs. 

Robert Bonanomi, who managed the listing for CBRE before it was transferred to Lee & Associates, said despite the price tag, there was considerable interest in the property.

"There was great interest, but we had some timing issues," Bonanomi said.

Bonanomi said he gave up the listing when his partner left CBRE.

In April of 2012, Bonanomi said a gourmet restaurant was among the property's suitors.

"We've heard from both retail and restaurants," Bonanomi said. "We're talking sit-down, gourmet restaurants."