Marcus & Millichap Inc.
07/08/2026 | Press release | Distributed by Public on 07/08/2026 14:52
Marcus & Millichap Arranges $6.5 Million Sale of 32,000 Square-Foot Retail Property in Glendora, California
Press Releases
Marcus & Millichap Arranges $6.5 Million Sale of 32,000 Square-Foot Retail Property in Glendora, California
July 08, 2026
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GLENDORA, Calif., July 7, 2026 - Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of 431 East Arrow Highway, a 32,000-square-foot retail property in Glendora, California. The asset sold for $6.5 million, or $203 per square foot.
"This asset generated significant interest due to its size, location and adaptability for a wide range of uses," said Orbell Ovaness, senior managing director investments. "However, given the cost and time required to reposition the building for multiple tenants, an owner-user was best positioned to maximize its value."
Ovaness and Jason Anguiano, investment specialists in Marcus & Millichap's Encino office and part of the Ovaness-Rostamian Group, marketed the property on behalf of the seller, HSJC CA LLC, and procured the buyer, K & S Baldwin Park Investors LLC.
"Creating competition early in the process was key to achieving a strong outcome and aligning both parties toward a smooth and efficient closing," added Anguiano.
The property is positioned on a 2.75-acre lot that was formerly occupied by a Vons grocery store along the Arrow Highway corridor. Originally designed for a single tenant, the asset attracted strong interest from investors, developers and owner-users seeking value-add and repositioning opportunities in the San Gabriel Valley. The buyer plans to occupy the property for its own operations, allowing for immediate use of the full building without the need for subdivision or lease-up.
"This asset generated significant interest due to its size, location and adaptability for a wide range of uses," said Orbell Ovaness, senior managing director investments. "However, given the cost and time required to reposition the building for multiple tenants, an owner-user was best positioned to maximize its value."
Ovaness and Jason Anguiano, investment specialists in Marcus & Millichap's Encino office and part of the Ovaness-Rostamian Group, marketed the property on behalf of the seller, HSJC CA LLC, and procured the buyer, K & S Baldwin Park Investors LLC.
"Creating competition early in the process was key to achieving a strong outcome and aligning both parties toward a smooth and efficient closing," added Anguiano.
The property is positioned on a 2.75-acre lot that was formerly occupied by a Vons grocery store along the Arrow Highway corridor. Originally designed for a single tenant, the asset attracted strong interest from investors, developers and owner-users seeking value-add and repositioning opportunities in the San Gabriel Valley. The buyer plans to occupy the property for its own operations, allowing for immediate use of the full building without the need for subdivision or lease-up.
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About Marcus & Millichap, Inc. (NYSE: MMI)
Marcus & Millichap, Inc. is a leading brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services with offices throughout the United States and Canada. As of December 31, 2025, the company had 1,808 investment sales and financing professionals in over 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The company also offers market research, consulting and advisory services to clients. Marcus & Millichap closed 8,818 transactions in 2025, with a sales volume of approximately $50.9 billion. For additional information, please visit https://www.MarcusMillichap.com.
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