**CBRE Facilitates $53M Sale of Lumia Mixed-Use Apartments in Azusa**
CBRE has arranged the $53 million sale of Lumia, a recently completed mixed-use multifamily community located at 850 North Azusa Avenue in Azusa, California. Lumia Azusa LLC acquired the property from Serrano Development.
The CBRE team representing the seller included Chris Tresp, Derrek Ostrzyzek, Rachel Parsons, Mike Murphy, and Kenji Thomas.
“Lumia represents a premier, transit-oriented asset in a walkable setting in downtown Azusa, an emerging San Gabriel Valley submarket,” said Chris Tresp, Vice President at CBRE. “The property’s combination of modern design, walkability, and connectivity to major employment hubs positions it well for long-term growth.”
Completed in 2024, Lumia comprises 127 luxury apartment homes and includes 9,132 square feet of ground-floor retail space, anchored by national tenants such as Wingstop and Pacific Dental Services. The development is situated in a pedestrian-friendly area, surrounded by a variety of shops, restaurants, and local businesses.
A significant feature of the property is its proximity to the Azusa Downtown Metro Station, which offers residents direct transit access to Pasadena in just eight minutes and seamless connectivity across the greater Los Angeles region.
