JLL Capital Markets facilitates sale of Grand Covina Plaza to Longpoint
News release
16 May 2025
Grocery-anchored San Gabriel Valley retail center trades for $24.975M
ORANGE COUNTY, Calif., May. 16, 2025 – JLL Capital Markets announced today that it has closed the $24.975 million sale of Grand Covina Plaza, a grocery-anchored, 111,975-square-foot retail center located in Covina, California, within the San Gabriel Valley.
JLL represented the seller, a private family partnership, and procured the buyer, Longpoint.
Grand Covina Plaza is a grocery-anchored retail center strategically located at 1001-1075 N. Grand Ave., with excellent access from Covina and Grand avenues. The center benefits from its position in a highly dense trade area, with over 180,000 people within a three-mile radius.
The property sits on 8.91 acres, featuring major tenants like Stater Bros Market, Dollar Tree, KFC, 7-Eleven and O'Reilly Auto Parts. The center is currently 89% occupied, offering immediate upside potential through lease-up of vacant suites.
JLL Capital Market’s Investment Sales and Advisory team representing the seller was led by Managing Director Dan Tyner and Senior Managing Directors Gleb Lvovich and Geoff Tranchina.
"Grand Covina Plaza generated significant interest resulting in double digit offer counts and strong overall feedback from the market," Tyner commented. "Grocery-anchored retail coupled with its unique upside potential, made Grand Covina Plaza a great opportunity for investors."
“Grand Covina Plaza represented a prime investment opportunity in the greater Los Angeles area as its infill location, strong anchor tenants, and potential for NOI growth made it an attractive grocery-anchored center in today’s competitive market,” Tranchina added.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Longpoint
Longpoint is a vertically integrated real estate private equity firm and Registered Investment Adviser headquartered in Boston, with eight regional offices. The firm leverages proprietary analytical tools, established relationships, and deep industry and market experience to acquire grocery anchored retail and industrial assets in supply-constrained infill locations. Longpoint is committed to transforming neighborhood shopping centers into vibrant, culturally relevant gathering places.