GLENDORA, CA—Employment centers are driving multifamily investment demand. An unnamed domestic investor has purchased the Glendora Park Place Apartment Homes from Glendora Park Place Inc. for $14.5 million, or $303 per square foot. The buyer was attracted to the property for its great location near major employment centers.

“The property’s recent construction near major employment centers of Los Angeles made this an attractive investment for the buyer,” Peter Hauser, a broker in Berkadia‘s Newport Beach office, who transacted the sale, tells GlobeSt.com. “We’re seeing a continuance of the upswing in commercial real estate, particularly in the multifamily market across all Southern California submarkets, and we expect that momentum to continue in the coming months.” The top employers in the area include Azusa Pacific University, Citrus Community College District, Citrus Valley Medical Center and Raging Waters.


NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.