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8/07/26
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The Olson Company has acquired a 7.9-acre, 120.2k sf office campus in Monterey Park for $24.85 mil, or $207/sf. The two-building property is located at 601 Potrero Grande Drive and 2100 Saturn St, near the 60, 91, 710, and 605 Freeways. The buyer plans to redevelop the property into a new residential community.
Originally built in 1980, the campus was previously owned and occupied by Blue Shield of California. The property includes a three-story, 91.4k sf office building at 601 Potrero Grande Drive and a companion office building at 2100 Saturn St. Together, the campus provides 508 surface parking spaces and is zoned Saturn Park (S-P) under Monterey Park's McClaslin Business Park overlay.
The property offers convenient regional access throughout the San Gabriel Valley and the greater Los Angeles area. Its scale, infill location, and redevelopment potential made it an attractive acquisition as demand for new housing continues to outpace supply across Southern California.
Executive Managing Director Ryan Campbell, SIOR, with NAI Capital Commercial represented the buyer in the deal. Andrew Harper, Jeff Bramson, and Will Poulsen of JLL repped the seller.
"This acquisition reflects the continued shift toward repositioning well-located office properties into much-needed housing throughout the San Gabriel Valley," said Ryan Campbell, SIOR. "Large infill redevelopment opportunities like this are increasingly rare. The size, location, and long-term potential of this campus make it exceptionally well suited to deliver new housing while transforming an underutilized office property into a vibrant residential community."
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