Foreign investor drops $13.7M on fully leased shopping center in San Gabriel Valley

Glendora Commons is a part of a larger marketplace, featuring an Aldi, Chick-fil-A and Pick-Up-Stix

Los Angeles /
Jul.July 31, 2019 12:11 PM
Rick Edwards, partner at Seagrove Property Group and the property
Rick Edwards, partner at Seagrove Property Group and the property

Seagrove Property Group has sold a fully leased shopping center in the San Gabriel Valley.

The property — at 1241-1251 Lone Hill Avenue in the city of Glendora — traded for $13.65 million. The buyer is a private foreign investor, which completed the deal using an entity named Oecus LLC, which is managed by Lemeng Shi, records show.

The shopping center, called Glendora Commons, was built in 2017 and has almost 41,700 square feet of space. Grocery chain Aldi anchors the center, and other tenants include Guitar Center, Chick-fil-A and Pick-Up-Stix. Glendora Commons is at the gateway to a larger 480,000-square-foot development called Glendora Marketplace.

Bryan Ley and Tony Ensbury with JLL Capital Markets represented Seagrove Property Group.

Shopping centers have maintained some demand in Southern California recently, as the Glendora sale came shortly after a Hollywood investor sold his restaurant to buy two shopping centers in Riverside County for $35.6 million.

Last year, Champion Real Estate flipped a retail center in Glendora. The firm had purchased a vacant building for $13.5 million two years prior, redeveloped it and then sold the property to Clarion for $34.2 million.


Related Articles

arrow_forward_ios
The Ratkovich Company Founder Wayne Ratkovich with renderings of West Harbor (West Harbor, Ratkovich)
Seven tenants announced for San Pedro’s West Harbor project, including Yamashiro
Seven tenants announced for San Pedro’s West Harbor project, including Yamashiro
(Facebook via Baldwin Hills Crenshaw)
Harridge buys Baldwin Hills Crenshaw Plaza; eyes $1B overhaul
Harridge buys Baldwin Hills Crenshaw Plaza; eyes $1B overhaul
LA city council to mull requiring vaccine proof at indoor venues
LA mulls vaccine mandate for indoor spaces
LA mulls vaccine mandate for indoor spaces
Mark and Arman Gabay and the Bedford Triangle property (LoopNet, Style Outlets)
Gabays asking $52M for trio of Beverly Hills retail properties
Gabays asking $52M for trio of Beverly Hills retail properties
Disney Store at Montebello Town Center (Disney, Shops at Montebello)
Mall vs. The Mouse: UBS sues Disney store for $275K in back rent
Mall vs. The Mouse: UBS sues Disney store for $275K in back rent
Redcar Properties CEO Jim Jacobsen with Dynasty Center (Google Maps, Industry Partners)
Redcar buys Dynasty shopping center in Chinatown
Redcar buys Dynasty shopping center in Chinatown
AMC CEO Adam Aron and The Grove and Americana theaters (Getty, Google Maps)
Coming attraction: AMC inks leases at the Grove, Americana theaters
Coming attraction: AMC inks leases at the Grove, Americana theaters
Stan Kroenke and Malibu Colony Plaza (Getty, Newmark Knight Frank)
Here’s what tenants pay at Stan Kroenke’s Malibu Colony Plaza
Here’s what tenants pay at Stan Kroenke’s Malibu Colony Plaza
arrow_forward_ios

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

Loading...