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6/27/18
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Grand & Alosta, a newly redeveloped, 70.8k sf grocery anchored retail center in the northeastern San Gabriel Valley city of Glendora, was purchased by 655 South Grand Avenue Owner LLC. The property was sold by Champion Real Estate Company.
Champion Glendora, an affiliate of Champion, acquired what was then a vacant 85.6k sf building in 2016. The firm redeveloped it into the slightly smaller, multi-tenant neighborhood shopping center that was sold in this deal. The property is currently co-anchored by Sprouts and Marshalls, and is 100% leased to several local retailers, restaurants and services.
Grand & Alosta is located at the highly desirable intersection of Grand Ave and Alosta Ave (Historic Route 66), less than one mile from the 210 Fwy and within walking distance to Azusa Pacific University and Citrus College.
HFF’s Bryan Ley, Gleb Lvovich and Justin Kundrak represented the seller, who is planning to use the proceeds to acquire a multifamily property. The buyer represented itself. JLL's team of Shauna Mattis, Blake Kaplan and Scott Burns handled leasing at the property.
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