It’s a new chapter for Vroman’s Bookstore in Pasadena, after sale of flagship property

You might say that Vroman’s Bookstore got a new lease on life this month, even as its longtime owner took a big step toward securing the beloved store’s next chapter.

The bookstore announced earlier this month that owner Joel Sheldon sold the property to Beverly Hills-based GD Realty for $15.6 million on Oct. 10. He then signed a long-term lease that officials say will keep it there as he continues to look for a buyer that would preserve the bookstore, which is a local institution.

It’s a new lease on life, because after months of searching, Sheldon said he has found a buyer committed to preserving the beloved Colorado Boulevard site. That’s even as the bookstore itself remains up for sale.

GD Realty founder Arash Danialifar is an “engaged member of the community who cares about books,”