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| Grand and Alosta Retail Center, Glendora, CA |
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| Paul Brindley |
LOS ANGELES, CA – – HFF announces $17.1
million in post-acquisition financing of Grand and Alosta, a
70,811-square-foot, newly redeveloped, grocery-anchored retail center in the
Southern California community of Glendora.
The HFF team worked on behalf of an institutional borrower to secure the seven-year, fixed-rate, full-term, interest
only, non-recourse loan through a national life insurance company.
Additionally, the HFF team brokered the sale of this retail
property to the borrower earlier in the year.
The Grand and Alosta retail center was redeveloped in 2018, which included
an extensive physical renovation and upgrades to base building systems.
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| Marc Schillinger |
Anchored by Sprouts Farmers Market and Marshalls, the fully
leased property is also home to Orangetheory Fitness, Mattress Firm, Oke Poke,
Sherwin-Williams, The Coffee Bean, US Nail and Spa, Burgerim and
Creamistry.
The center is
situated on 6.22 acres at 655 South Grand Avenue at the intersection of Grand
and Alosta Avenues (Route 66), which has a combined traffic count of 62,000
vehicles per day and is 0.4 miles from the 210 Freeway.
More than 164,400 residents earning an average annual
household income of $88,234 lives within a three-mile radius of Grand and
Alosta.
The HFF debt placement team representing the borrower included senior managing director Paul Brindley, managing director Marc
Schillinger and associate Ryan Ash.
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| Ryan Ash |
"We were able to leverage HFF’s national platform and real-time financing data to procure the best possible financing solution for our client.”
Holliday GP Corp. ("HFF"), California Department of Real Estate
License #01385740.
CONTACTS:
PAUL BRINDLEY
CA Lic. #01173794
HFF Senior Managing Director
(310) 407-2100
MARC SCHILLINGER
CA Lic. # 01385740
HFF Managing Director
(310) 407-2100
KIMBERLY STEELE
HFF Digital
Content/Public Relations Specialist
(713) 852-3420
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