Grocery-Anchored San Gabriel Valley Retail Center Sells for $24.975 Million

JLL Capital Markets Facilitates Sale of Grand Covina Plaza to Longpoint

JLL Capital Markets has announced that it has closed the $24.975-million sale of Grand Covina Plaza, a grocery-anchored, 111,975-square-foot retail center located in Covina.

JLL represented the seller, a private family partnership, and procured the buyer, Longpoint.

Grand Covina Plaza is a grocery-anchored retail center strategically located at 1001-1075 N. Grand Ave., with 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.

The property sits on 8.91 acres, featuring major tenants like Stater Bros. Market, Dollar Tree, KFC, 7-Eleven and O’Reilly Auto Parts. The center is currently 89% occupied, offering immediate upside potential through the lease-up of vacant suites.

JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by managing director Dan Tyner and senior managing directors Gleb Lvovich and Geoff Tranchina.

“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.”

“Grand Covina Plaza represented a prime investment opportunity in the Greater Los Angeles Area as its infill location, strong anchor tenants and potential for NOI growth made it an attractive grocery-anchored center in today’s competitive market,” Tranchina added.

Information was sourced from JLL. To learn more, contact greta.kieras@jll.com.