Champion Real Estate plans $30M shopping center development

Los Angeles /
Jun.June 13, 2016 05:13 PM

Champion Real Estate Company is planning to demolish a retail center in Glendora anchored by a shuttered Ralph’s to make way for a smaller shopping center.

The development costs, including the price of acquiring the existing 85,615-square-foot grocery building at 655 South Grand Avenue, will total $30 million, The Real Deal has learned.

Champion plans to reconfigure the San Gabriel Valley property as a smaller 70,500-square foot grocery-anchored neighborhood shopping center.

The City of Glendora Planning Commission approved Champion’s development plan in March. A subsidiary of the firm, which purchased the property, is now obtaining demolition and building permits.

“Glendora is a very strong infill suburban community in the Los Angeles San Gabriel Valley that has recently seen several major mixed-use residential projects which have added close to 400 new homes in the last several years,” Chris Wilson, Champion’s executive vice president and retail partner, said, adding that he would be pursuing national chain retailers.


Related Articles

arrow_forward_ios
Legacy Partners' W. Dean Henry with The Verandas (Legacy Partners, The Verandas Apartments)
Legacy Partners unloads 209-unit apartment complex in West Covina for $92M
Legacy Partners unloads 209-unit apartment complex in West Covina for $92M
From left: Michael Glimcher, president, chairman and CEO of Donahue Schriber; Alex Nyhan, CEO of First Washington Realty; the Donahue Schriber Headquarters at 200 Baker Street in Costa Mesa (First Washington Realty, Donahue Schriber, LoopNet)
Donahue Schriber fetches $3B-plus on sale to East Coast investor
Donahue Schriber fetches $3B-plus on sale to East Coast investor
Wilbur Smith and Jeff Bezos with 1211 E. Badillo Street (Getty, Greenlawpartners, CBRE)
Greenlaw buys church site for Amazon warehouse
Greenlaw buys church site for Amazon warehouse
A photo illustration of 5123 Rosemead Boulevard (Lee & Associates)
Local investor picks up San Gabriel Valley apartment portfolio
Local investor picks up San Gabriel Valley apartment portfolio
Dunleer Group's BJ Turner and the warehouse (Dunleer, LoopNet)
Owner-occupant rakes in $10.6M for warehouse in San Gabriel Valley
Owner-occupant rakes in $10.6M for warehouse in San Gabriel Valley
Mamo Real Estate nabs full stake in Marketplace Long Beach (Credit: Google Maps)
Mamo pays $67M to take control of Long Beach shopping center
Mamo pays $67M to take control of Long Beach shopping center
Benedict Canyon Equities co-founding principal Jim Rosten and CEO Ryan Somers with Sagewood Gardens
Benedict Canyon Equities unloads 162-unit Hacienda Heights complex
Benedict Canyon Equities unloads 162-unit Hacienda Heights complex
Rick Edwards, partner at Seagrove Property Group and the property
Foreign investor drops $13.7M on fully leased shopping center in San Gabriel Valley
Foreign investor drops $13.7M on fully leased shopping center in San Gabriel Valley
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...