{"id":1004758359,"date":"2025-05-20T05:58:29","date_gmt":"2025-05-20T13:58:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004758359"},"modified":"2025-05-20T05:58:31","modified_gmt":"2025-05-20T13:58:31","slug":"longpoint-buys-los-angeles-retail-center","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/longpoint-buys-los-angeles-retail-center\/","title":{"rendered":"Longpoint Buys Los Angeles Retail Center"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Grand-Covina-Plaza-in-Covina-Calif.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004758361\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/grand-covina-plaza-in-covina-calif-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Grand-Covina-Plaza-in-Covina-Calif-edited.jpg\" data-orig-size=\"1813,1360\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;11&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;ILCE-7RM3&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1710434159&quot;,&quot;copyright&quot;:&quot;\\u00a9 2024 Nextimage3D LLC&quot;,&quot;focal_length&quot;:&quot;24&quot;,&quot;iso&quot;:&quot;320&quot;,&quot;shutter_speed&quot;:&quot;0.016666666666667&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Grand Covina Plaza in Covina, Calif.\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Grand-Covina-Plaza-in-Covina-Calif-edited.jpg?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Grand-Covina-Plaza-in-Covina-Calif-edited.jpg\" alt=\"Exterior shot of Grand Covina Plaza, a 111,975-square-foot, grocery-anchored retail center in Covina, Calif.\" class=\"wp-image-1004758361\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Grand-Covina-Plaza-in-Covina-Calif-edited.jpg 1813w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Grand-Covina-Plaza-in-Covina-Calif-edited.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Grand-Covina-Plaza-in-Covina-Calif-edited.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Grand-Covina-Plaza-in-Covina-Calif-edited.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Grand-Covina-Plaza-in-Covina-Calif-edited.jpg?resize=1536,1152 1536w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/a><figcaption class=\"wp-element-caption\">Stater Bros. Markets anchors Grand Covina Plaza. <em>Image courtesy of JLL Capital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Longpoint has acquired Grand Covina Plaza, a 111,975-square-foot, grocery-anchored retail center in Covina, Calif. A private family partnership previously owned the asset that traded for some $25 million or $223 per square foot. JLL Capital Markets represented the seller and procured the buyer.<\/p>\n\n\n\n<p>The private partnership had acquired the property for $5.7 million in 2007, according to CommercialEdge information. In 2015, the retail center became the subject of a $7 million loan issued by RGA Reinsurance Co., set to mature this year, the same source shows.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-an-l-a-area-retail-center\">An L.A.-area retail center<\/h2>\n\n\n\n<p>Completed in 1956, Grand Covina Plaza consists of four buildings located at 1001-1075 N. Grand Ave. Anchored by Stater Bros. Markets, the property has a diverse mix of tenants including Dollar Tree, KFC, 7-Eleven and O&#8217;Reilly Auto Parts. The retail center was 89 percent leased at the time of sale.<\/p>\n\n\n\n<p>Located in the San Gabriel Valley, Grand Covina Plaza is some 23 miles west of downtown Los Angeles. The property is near the Covina train station, as well as the Kahler Russell Park. The retail center serves approximately 180,000 people within a 3-mile radius.<\/p>\n\n\n\n<p>JLL Managing Director Dan Tyner, together with Senior Managing Directors Gleb Lvovich and Geoff Tranchina, led the Investment Sales and Advisory team that worked on behalf of the seller.<\/p>\n\n\n\n<p><a href=\"https:\/\/www.commercialsearch.com\/news\/why-investors-are-hungry-for-grocery-anchored-retail\/\">Grocery-anchored shopping centers<\/a> continue to attract investors due to their resilience, consistent foot traffic and strong returns, especially in the post-pandemic environment. Last year, the retail sector&#8217;s transaction volume reached $7 billion, with a 34 percent increase in investment activity in the second half of the year. Asset values hit a record $209 per square foot.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JLL Capital Markets represented the seller and procured the buyer.<\/p>\n","protected":false},"author":3619,"featured_media":1004758361,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1594,21742,21749,15],"tags":[32796,51923],"class_list":["post-1004758359","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-los-angeles","category-latest","category-retail","category-west","tag-jll","tag-longpoint"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Longpoint Buys Los Angeles Retail Center - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Longpoint has acquired Grand Covina Plaza, a grocery-anchored retail center in Covina, Calif., near Los Angeles.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/longpoint-buys-los-angeles-retail-center\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Longpoint Buys Los Angeles Retail Center\" \/>\n<meta property=\"og:description\" content=\"Longpoint has acquired Grand Covina Plaza, a grocery-anchored retail center in Covina, Calif., near Los Angeles.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/longpoint-buys-los-angeles-retail-center\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2025-05-20T13:58:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-05-20T13:58:31+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/05\/Grand-Covina-Plaza-in-Covina-Calif-edited.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1813\" \/>\n\t<meta property=\"og:image:height\" content=\"1360\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Maria Maruta\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/longpoint-buys-los-angeles-retail-center\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/longpoint-buys-los-angeles-retail-center\/\",\"name\":\"Longpoint Buys Los Angeles Retail Center - 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