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Headquarters of El Super grocery store chain sold for $14 million

April 2, 2010 |  3:56 pm

A former Albertsons grocery store in Paramount that is now headquarters to the El Super grocery store chain has been sold to Los Angeles investors for $14 million, a real estate brokerage said Friday.

Family investment group Wolf Trust bought the 88,000-square-foot property on 6.7 acres, according to brokerage Faris Lee Investments, which represented seller LDR/DMG Paramount of Phoenix. El Super remodeled the building and moved in last September after signing a 20-year lease, said Richard Walter, president of Faris Lee.

“This sizable, all-cash transaction demonstrates that demand exists for well-located properties in dense, established areas," Walter said.

The building at 14601 Lakewood Blvd. in the Paramount Town Center contains both an El Super grocery store and the head offices of the Latino discount supermarket chain. El Super started in 1997 and now has 19 locations in Southern California, four in Nevada and two in Arizona.

--Roger Vincent