Vroman’s Bookstore Secures Long-Term Lease as Property Changes Hands

[Updated]  The property housing Vroman’s Bookstore has been sold to GD Realty Group for $15.55 million, and the beloved Pasadena institution has secured its presence at the Colorado Boulevard location through a long-term lease signed in early October with the new property owner.

The lease ensures Vroman’s continued presence at 695 E. Colorado Blvd., even as the historic bookstore itself remains up for sale.

“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,” GD Realty founder Arash Danialifar said in written responses to questions about the store’s future.

The 55,854-square-foot property was sold for $15,550,000, according to transaction records. Commercial real estate firm Kidder Mathews brokered the deal.

Vroman’s, founded in 1894, is widely regarded as Southern California’s oldest and largest independent bookstore.

Joel Sheldon, chairman of AC Vroman Inc., told Pasadena Now that the bookstore “is under a long-term lease” when asked about the arrangements with the new property owner.

Sheldon said customers likely won’t experience any changes in operations.

“Not that I can anticipate. The answer is basically no, but you’d never know.” He added, “But we hope operations continue as they have been going along now for a number of years.”

Plans to sell the bookstore business itself are continuing. Sheldon announced in January 2024 he was seeking a buyer for the bookstore as he approached his 80th birthday.

The ideal buyer for the bookstore, according to Sheldon, 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.

Sheldon acknowledged that the recent property ownership transition created some complexity.

“It did affect some of the relationships, but we tried to balance everything out and we think it will be successful for Vroman’s Bookstore,” he said.

Cultural Significance

Mayor Victor Gordo has called the bookstore a “beloved institution that has contributed significantly to the cultural tapestry and literary landscape of Pasadena and beyond.”

“We are grateful to Joel Sheldon and his family for the gift of this finest of bookstores that broadened our minds, fostered a love of literature, learning, and community, and welcomed all who walked through its doors since 1894,” Gordo said in 2024, after Sheldon announced his plans to sell the business.

“Vroman’s is an invaluable part of what makes our city great.”

Generations of Pasadenans have browsed and bought books at the location. Over decades, Vroman’s has become a local mecca for people passionate about literature, history, politics, art and culture.

New Property Owner’s Vision

Danialifar shared his perspective for the property.

“Our vision is to hopefully keep the theater and Vroman’s there for the foreseeable future,” he stated.

“Vroman’s is a staple of the community… has been there for more than a 100 years!” Danialifar said. “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!” Danialifar stated, adding a personal note: “Plus, I am an avid book reader and this is by far my favorite book store!”