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LOS ANGELES COUNTY NEWS
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Recently Redeveloped Glendora Retail Center Trades Hands

7/06/18

Grand & Alosta, a newly redeveloped 70.8k sf grocery-anchored retail center in Glendora was acquired by 655 South Grand Avenue Owner LLC. The property was sold by Champion Real Estate Company, who redeveloped the 85.6k sf structure after acquiring what was then a vacant building in 2016.

Champion redeveloped it into the smaller, multi-tenant neighborhood shopping center, co-anchored by Sprouts and Marshalls and 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.

The HFF team of Bryan Ley, Gleb Lvovich and Justin Kundrak represented the seller. The buyer repped itself in the deal. JLL's team of Shauna Mattis, Blake Kaplan and Scott Burns handled leasing at the property.

“This was the perfect example of Champion implementing its value-add business strategy by acquiring an underperforming asset, redeveloping it into a stable property and selling it to a qualified owner/operator," said Chris Wilson, Executive Vice President and Retail Partner with Champion Real Estate Company. "Champion will look to acquire a multifamily property with the proceeds."






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