A TOP PERFORMING SPROUTS GROCERY ANCHORED RETAIL CENTER IN A CORE SOUTHERN CALIFORNIA LOCATION GRAND & ALOSTA SHOPPING CENTER GLENDORA, CA Holliday Fenoglio Fowler, L.P. acting by and through Holliday GP Corp., a real estate broker licensed with the California Department of Real Estate, License Number 01385740 ( HFF ).
GRAND & ALOSTA EXECUTIVE SUMMARY HFF has been exclusively retained by Ownership to offer the opportunity to acquire Grand & Alosta Shopping Center (the Property ), a newly redeveloped 70,811 square-foot grocery anchored retail center located in Glendora, CA. Anchored by Sprouts Farmers Market and Marshalls, this neighborhood shopping center is located at the highly desirable intersection of Grand Ave and Alosta Ave (Historic Route 66), less than one mile from the 210 freeway (262,000 VPD) and walking distance to Azusa Pacific University (10,000 students) and Citrus College (13,000 students). The Property is currently 100% leased and just completed a ground up redevelopment in 2017. Grand & Alosta Shopping Center offers investors the opportunity to acquire a newly redeveloped grocery anchored retail center in an infill Los Angeles County location. PROPERTY SUMMARY PRICE ADDRESS SQUARE FEET 70,811 BEST OFFER OCCUPANCY 100.0% YEAR BUILT 1992 REDEVELOPED 2017/2018 SITE SIZE PARKING 655 S GRAND AVENUE GLENDORA, CA 91740 6.22 ACRES 438 SPACES (6.19 PER 1,000 SF)* APN 8633-005-027 & 8633-005-025 *Reciprocal Easement Agreement grants access to parking spots on the Wells Fargo parcel.
INVESTMENT HIGHLIGHTS RARE CORE OFFERING Exceptionally rare opportunity to acquire a top performing, newly constructed, Sprouts anchored retail center in an infill Los Angeles County location. STABLE INCOME STREAM FROM NATIONAL TENANTS ON LONG-TERM LEASES The property is 100% leased and has an average weighted average lease term of almost 12 years, providing investors with secure cash flow from a national credit tenant base. SYNERGISTIC DAILY-NEEDS ORIENTED TENANT MIX Grand & Alosta Shopping Center features a diversified and internet-resistant tenant mix with a variety of synergistic uses that include grocery, fitness, health and beauty, food, and discount retail.
GRAND & ALOSTA INVESTMENT HIGHLIGHTS PROMINENT INTERSECTION WITH EXCEPTIONAL ACCESS AND VISIBILITY The Property is strategically positioned 0.4 miles from the 210 Freeway (262,000 VPD) and has great visibility and accessibility from the intersection of Grand Ave and Alosta Ave / Route 66 (62,000 VPD combined). NEWLY REDEVELOPED ASSET The complete redevelopment of the Property, which included an extensive physical renovation and upgrades to base building systems, provides comparable quality to new construction. DENSE AND RAPIDLY GROWING TRADE AREA There are currently more than 285,000 residents within a 5-mile radius of the Property and the area continues to densify, with four new residential projects within a 1.5-mile radius scheduled to deliver another 438 residential units by the end of 2020. 4 +431 MAJOR RESIDENTIAL DEVELOPMENTS NEARBY SINGLE-FAMILY HOMES RECENTLY COMPLETED / UNDER CONTSTRUCTION
ALOSTA AVE / ROUTE 66 (27,000 VPD) Sherwin Williams 4,123 SF Burgerim 1,583 SF US Nail & Spa 2,500 SF Creamistry 1,271 SF 22,000 SF Mattress Firm 2,548 SF Orangetheory 3,497 SF Oke Poke 1,289 SF (NAP) Coffee Bean 2,000 SF One West Bank (NAP) GRAND AVE (35,000 VPD) TENANT ROSTER TENANT SF % OF GLA EXP. DATE Sprouts 30,000 42.4% May-32 Marshalls 22,000 31.1% Apr-27 Sherwin Williams 4,123 5.8% Dec-27 Orangetheory 3,497 4.9% Nov-27 Mattress Firm 2,548 3.6% Dec-27 Us Nail & Spa 2,500 3.5% Nov-27 Coffee Bean 2,000 2.8% Jul-32 Burgerim 1,583 2.2% Nov-27 Oke Poke 1,289 1.8% Nov-24 30,000 SF Creamistry 1,271 1.8% Nov-27 Fitness 5% Food & Beverage 9% Specialty Store 9% TENANCY BY % OF GLA Discount Retail 31% Health & Beauty 4% Grocery 42% 2%+ NOI COMPOUND ANNUAL GROWTH RATE 11.7 yrs LEASE TERM NATIONAL CREDIT 90%+
$90,000+ AVG HOUSEHOLD INCOME 285,000+ PEOPLE IN A 5-MILE RADIUS OVER 90K HOUSEHOLDS IN THE TRADE AREA AZUSA PACIFIC COLLEGE 10,000+ STUDENTS 2,300+ FACULTY LA COLINA ESTATES 121 SINGLE-FAMILY HOMES (Recently Completed) MORETON PLACE AT GLENDORA 40 DETACHED TOWNHOMES (Under Construction) (27,000 VPD) CITRUS COLLEGE 12,900+ STUDENTS 390+ FACULTY THE FOOTHILL COLLECTION 144 TOWNHOMES (Recently Completed) (NAP) S GRAND AVE (35,000 VPD) STANTON ELEMENTARY SCHOOL 554 STUDENTS MOTIF AT GLENDORA PLACE 20 SINGLE-FAMILY HOMES 106 TOWNHOMES (Recently Completed) (262,000 VPD) WHITCOMB HIGH SCHOOL 427 STUDENTS 210 FREEWAY DIRECT ON/OFF RAMP ACCESS
PROXIMITY TO DAYTIME POPULATION DEMAND DRIVERS Department of Child and Family Services (0 miles) More than 700 LA County employees work at the DCFS office immediately adjacent to the Property, a major demand driver for food users Citrus College (0.4 miles) 12,920 students and 391 faculty Azusa Pacific University (0.5 miles) Over 10,000 students and 2,300 faculty Metro Gold Line Azusa/Citrus Station (1.2 miles) Terminal station of the Metro Gold Line expansion completed in 2016 with 45,000+ average weekday ridership LIMITED COMPETITION IN AN UNDERSERVED TRADE AREA Limited options within the trade area for a growing millennial consumer base of college students and young families looking for organic and specialty grocery products. Next closest Sprouts location is 6.1 miles away Closest Whole Foods location is 12.5 miles away Closest Trader Joe s location is 4.5 miles away DEMOGRAPHICS TABLE 1-MILE 3-MILE 5-MILE 2018 Population 23,701 164,403 285,706 2000-2018 Population Growth 13.57% 7.11% 6.40% 2018 Number of Households 7,465 50,403 89,492 2018 Average Household Income $74,965 $88,234 $91,520
GRAND & ALOSTA SHOPPING CENTER GRAND & ALOSTA ALOSTA AVE GRAND AVE INVESTMENT ADVISORS BRYAN LEY Managing Director 310.407.2120 bley@hfflp.com CA Lic. #01458927 GLEB LVOVICH Managing Director 949.798.4115 glvovich@hfflp.com CA License #01496699 JUSTIN KUNDRAK Director 310.407.2145 jkundrak@hfflp.com CA Lic. #01994398 LEASING ADVISOR SHAUNA MATTIS (JLL) Sr Vice President 310.694.3190 shauna.mattis@am.jll.com RE Lic. #01071320 DEBT ADVISOR MARC SCHILLINGER Managing Director 310.407.2119 mschillinger@hfflp.com CA Lic. #01846580 www.hfflp.com T. (310) 407-2100 F. (310) 407-2101 10250 CONSTELLATION BLVD, SUITE 1000 LOS ANGELES, CA 90094 Holliday Fenoglio Fowler, L.P., HFF Real Estate Limited (collectively, HFF ), HFF Securities L.P. and HFF Securities Limited (collectively, HFFS ) are owned by HFF, Inc. (NYSE: HF). HFF and its affiliates operate out of 24 offices and are a leading provider of commercial real estate and capital markets services to the global commercial real estate industry. HFF, together with its affiliates, offers clients a fully integrated capital markets platform including debt placement, investment sales, equity placement, funds marketing, M&A and corporate advisory, loan sales and loan servicing. For more information please visit hfflp.com or follow HFF on Twitter @HFF. HFF has been engaged by the owner of the property to market it for sale. Information concerning the property described herein has been obtained from sources other than HFF and we make no representations or warranties, express or implied, as to the accuracy or completeness of such information. Any and all references to age, square footage, income, expenses, and any other property specific information are approximate. Any opinions, assumptions, or estimates contained herein are projections only and used for illustrative purposes and may be based on assumptions or due diligence criteria different from that used by a buyer. Buyers should conduct their own independent investigation and rely on those results. The information contained herein is subject to change.