Done Deals: Champion Real Estate Co. Sells Grand & Alosta, a Newly Redeveloped Grocery-Anchored Retail Center in Los Angeles, CA Area

Grand & Alosta Retail Center, 655 South Grand Avenue,
Glendora, CA

LOS ANGELES, CA — Champion Real Estate Company (“Champion”), announced it has sold Grand & Alosta, a newly redeveloped 70,811-square-foot grocery anchored retail center located in Glendora, California to 655 South Grand Avenue Owner, LLC.

Shauna Mattis

Champion Glendora, an affiliate of Champion, acquired the vacant 85,615-square-foot building in 2016. The firm redeveloped it into a smaller 70,811-square-foot multi-tenant neighborhood shopping center, co-anchored by Sprouts and Marshalls and 100 percent leased to several local retailers, restaurants and services.

Blake Kaplan

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."

The HFF team of Bryan Ley, Gleb Lvovich and Justin Kundrak represented the seller. The buyer represented itself.

Scott Burns

Grand & Alosta is located at the highly desirable intersection of Grand Avenue and Alosta Avenue (Historic Route 66), less than one mile from the 210 freeway and walking distance to Azusa Pacific University and Citrus College.

Champion Real Estate Company (“Champion”) was founded in 1987 by veteran investor, developer and CEO, Bob Champion. Based in West Los Angeles, Champion’s strategy is to acquire infill properties in “A” locations within markets that are core, core adjacent or gentrifying to core and implement value accretive improvements.

For more information, please contact:

David Ebeling

Ebeling Communications

(949) 278-7851

david@ebelingcomm.com