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5/19/25
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Grand Covina Plaza, a grocery-anchored, 112k sf retail center in Covina, was acquired by Longpoint in a $24.98 ($223/sf) mil transaction. The San Gabriel Valley property was sold by a private family partnership.
Grand Covina Plaza sits on 8.91 acres at 1001-1075 N. Grand Ave, with excellent access from Covina and Grand avenues. The center benefits from its position in a highly dense trade area, with over 180,000 people within a three-mile radius.
Major tenants at the property include Stater Bros Market, Dollar Tree, KFC, 7-Eleven and O'Reilly Auto Parts. The center is currently 89% occupied, offering immediate upside potential through lease-up of vacant suites.
Dan Tyner, Gleb Lvovich and Geoff Tranchina with JLL Capital Markets procured the buyer and represented the seller in the deal.
"Grand Covina Plaza generated significant interest resulting in double digit offer counts and strong overall feedback from the market," Tyner commented. "Grocery-anchored retail coupled with its unique upside potential, made Grand Covina Plaza a great opportunity for investors."
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