JLL closes $13.65M sale of the leasehold interest in a grocery-anchored shopping center in Los Angeles County
The newly constructed center is located within Glendora’s primary retail corridor
LOS ANGELES, July 31, 2019 – JLL announced today that it has closed the $13.65 million leasehold interest sale of Glendora Commons, a 41,689-square-foot, newly constructed, fully leased grocery-anchored retail center located in Glendora, California.
JLL marketed the property on behalf of the seller, Seagrove Property Group. A private foreign investor purchased the asset.
Completed in 2017, Glendora Commons features a premier lineup of national tenants that includes Aldi, Guitar Center, Chick-fil-A and Pick-Up-Stix. Located at 1241-1251 Lone Hill Avenue in Glendora and strategically positioned next to the heavily trafficked 210 and 57 Freeway interchange, the center is visible to approximately 262,000 vehicles per day. Glendora Commons sits at the gateway to the larger Glendora Marketplace, a 480,000 square-foot development with synergistic, high-traffic retailers that include Walmart, Home Depot, ULTA Beauty and HomeGoods, among others.
The JLL Capital Markets team representing the seller was led by Managing Director Bryan Ley and Associate Tony Ensbury.
“The sale of Glendora Commons highlights JLL’s ability to identify high-net-worth private foreign investors for assets in Southern California,” Ley said. “Through a broad marketing process, JLL achieved exceptional pricing for a leasehold interest in a grocery-anchored asset.”
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday GP Corp. (“HFF”) prior to being acquired by JLL on July 1, 2019. Brokerage services now provided by Jones Lang LaSalle Americas, Inc., a licensed real estate broker. CA Real Estate License No. 01223413.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of over 91,000 as of March 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Seagrove Property Group
Founded in 1979, Seagrove’s success is based on a simple strategy of developing strong relationships with tenants, property owners, brokers and cities, and devising and executing a game plan that meets the requirements of all project participants. Seagrove’s relationships with national and regional retailers allow Seagrove to market its development projects efficiently and aggressively. Visit https://www.seagrovepg.com to learn more.