Glendora Public Market
Retail | 6.00% CAP | 18,132 SqFt
Marketing description
CBRE Investment Properties has been retained by Ownership as the exclusive marketing adviser for the fee simple interest in Glendora Public Market, the San Gabriel Valley’s premier food hall located at 905 E. Arrow Highway, Glendora, Los Angeles County, CA (“the Property”). Anchored by Smog City Brewing and Dog Haus, Glendora Public Market features some of the Los Angeles region’s most exciting food and beverage destinations all under one roof. Situated on 1.25 acres, the 18,192 SF property was originally built in 1948 and operated for decades as a Wonder Bread factory. Glendora Public Market underwent a complete renovation in 2020 into a Best-in-Class food hall, while still maintaining the significant charm associated with the Property’s historic roots.
Strategically located at the four-way, signalized intersection of Sunflower Ave and Arrow Highway, the trade area’s main east/west thoroughfare, the Property boasts daily traffic counts in excess of 41,000 cars. Glendora Public Market lies within the vibrant San Gabriel Valley City of Glendora, also known as the “Pride of the Foothills”, just minutes from both the I-210 and SR 57 freeways. The Property features tremendous demographics including 141,627 residents with an average household income in excess of $138,022 within three miles.
Glendora Public Market offers an extremely rare, pride-of-ownership investment opportunity to purchase a stand-alone, fully leased and thriving food hall at an irreplaceable corner in one of the San Gabriel Valley’s most established trade areas.
Investment highlights
Best-in-Class Food Hall Investment Opportunity- As the premier food hall in the San Gabriel Valley, Glendora Public Market offers a tremendous investment opportunity to purchase a fully occupied food hall that has become a destination for families and foodies throughout the Los Angeles region and a landmark in Glendora.
Completely Renovated Property- Prior to opening for business in 2020, Ownership completely renovated the former Wonder Bread factory into its industry defining look as Glendora Public Market. The Property is truly a Pride-of-Ownership offering positioned to capitalize on the exponential demand trends for food halls from consumers and venders, alike.
Attractive Percentage Rent Clauses- Investors can capture an increasing revenue stream with percentage rent clauses in a number of tenant’s leases, allowing for new ownership to share in the growing success of the tenant base.
Noteworthy Anchor Tenancy- Smog City Brewing is synonymous with Los Angeles’ flourishing micro-brewery scene with four locations in the region and is a destination in itself at the Glendora Public Market. Dog Haus now has 90 locations around the country, including 19+ in Southern California. & Broth, Limone, Pastaphony and Aguitas by El Chamango all have multiple locations in other Food Halls throughout the region.
Internet Resistant Tenancy- Glendora Public Market is currently 100% occupied by a diverse mix of food and beverage favorites from around the region facing virtually no competition from online retailers. Continued demand growth for new food and beverage concepts will ensure high occupancy at the Property.
NNN Leases- The Rent roll is supported by NNN leases allowing for full pass through of operating expenses including real estate taxes.
Explosive Food Hall Trends- QSR magazine recently noted the “Future of Food Halls is Bright” with the ready to eat food market expected to go to $71 billion in the next five years. Food halls not only bring community together, they allow for the support of local/regional businesses and provide an array of options for each customer to pursue their own personal tastes and then eat in a communal setting to share experiences and flavors.
High Traffic, Corner Location at Signalized Intersection- Irreplaceably located at the signalized intersection of the heavily traveled Arrow Highway and Sunflower Ave with exposure to more than 41,000 cars per day.
Close Proximity to Major Freeways- Just minutes from the on/off ramps to both the I-210 and SR 57 freeways, the Property is easily accessible for the entire region’s population base from surrounding Los Angeles, Orange, San Bernardino and Riverside counties.
Infill, Affluent Demographics- Situated within the supply constrained San Gabriel Valley trade area. Densely populated, affluent location with 141,627 residents with an average household income in excess of $138,022 within three miles.
High Barriers to Entry/Tight Market Fundamentals- Infill and mature trade area with limited sites available for future development creating high barriers to entry for future competition.
Ideal 1031 Exchange- Prime San Gabriel Valley retail opportunity with strong cash flow provides for an ideal 1031 exchange candidate.
Depreciable Asset- Fee ownership allows investors the benefit from an increase in after tax cash-flow by depreciating the building improvements – not a ground lease.
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