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July 9, 2020
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San Dimas Office Building Acquired by Taiwan-Based Entity in $20 Mil Deal


An 87.2k sf, suburban office building in San Dimas was acquired by Taiwan-based HCT Logistics Co LTD for $19.9 mil ($228/sf) in cash. The property was sold by 955 Overland Venture LLC, a local real estate investment company.

Located at 955 Overland Ct, south of the 210 Fwy and just west of the 57 Fwy, the multi-tenant building was 100% leased at the time of sale, including the County of Los Angeles, United Nurses of California and Med-Legal. The two-story property sits in proximity to a variety of amenities.

Mark Shaffer, Anthony DeLorenzo, Gary Stache, Doug Mack, Mark Perry and Carlene O’Neil with CBRE represented the seller in the transaction. The buyer, a leading Taiwan-based logistics and investment company founded in 1928, was represented by an outside broker.

“We received a great amount of interest in this fully leased building, which resulted in a competitive bidding process with multiple offers,” said Shaffer. "San Dimas, given its recent leasing momentum and relative value, is attracting interest from investors who are searching for stable cash flow and strong yields beyond primary real estate markets.”

Despite a nationwide slow-down in inbound capital to the U.S. -- deals totaled $16.9 bil, down from a record $32.7 bil in the same period last year with much of the decline in spending on large mergers and acquisitions according to the latest CBRE report, Los Angeles has continued to attract money. LA is second in the nation, only behind Manhattan, for inbound investment with a total of $1.7 bil. Demand is driven by the gateway market’s relative value proposition compared with other metro areas, its continued strong leasing fundamentals, the regions immense population and the fact that it isn’t dominated by a single industry but is host to a variety of companies and employers, according to CBRE.

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