Champion Real Estate plans $30M shopping center development

Developer is obtaining demolition permits for the Glendora site currently anchored by shuttered Ralph's

TRD 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
Benedict Canyon Equities co-founding principal Jim Rosten and CEO Ryan Somers with Sagewood Gardens

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

Bucking trend, Paragon Commercial to invest $500M in “neighborhood shopping centers”

An industrial developer sues former tenants, alleging decades of contamination

Shovel-ready industrial site in San Gabriel Valley sells for $47M

Community backlash could nip pot growers in the buds

UBS Realty buys Pomona development site for $32M

Trader Joe’s inks 16K sf lease at huge NoHo mall conversion

arrow_forward_ios