The CBRE Capital Markets Investment Properties team of Sammy Cemo, Mark Shaffer, Anthony DeLorenzo, Gray Stache, Bryan Johnson, Steven Saunders and Philip Woodford has represented Quest Capital Partners in the disposition of Atrium on the 10, a 101,000-square-foot office building in West Covina, CA. A local non-profit owner/user purchased the asset for $22.2 million.
According to CBRE research, the San Gabriel Valley has held up well during the office sector struggles, posting the second lowest Q4 2022 vacancy rate of all LA submarkets. “This transaction closed at near asking price, demonstrating the resiliency of quality office products in well-located suburban markets,” commented Cemo.
More than $3 million in capital has been invested into Atrium on the 10 in recent years, including exterior cosmetic enhancements, installation of a living wall, furniture upgrades and building systems. Located on East Garvey Avenue South, the property is surrounded by a variety of retail and dining options.
The post CBRE Reps Seller in $22M W. Covina Office Deal appeared first on Connect CRE.
The CBRE Capital Markets Investment Properties team of Sammy Cemo, Mark Shaffer, Anthony DeLorenzo, Gray Stache, Bryan Johnson, Steven Saunders and Philip Woodford has represented Quest Capital Partners in the disposition of Atrium on the 10, a 101,000-square-foot office building in West Covina, CA. A local non-profit owner/user purchased the asset for $22.2 million. According …
The post CBRE Reps Seller in $22M W. Covina Office Deal appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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