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2/03/26
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A 45k sf office portfolio located at 24 and 26 Centerpointe Drive in La Palma was acquired by a local 1031 private investor in a $12.38 mil transaction. The deal works out to $275/sf and yielded a 7.6% year-one cap rate.
The portfolio includes two high-image, single-story office-flex buildings situated within a landscaped campus setting. The property features recent multi million dollar common area upgrades, a shared association lounge and efficient surface parking.
Located immediately off State Route 91 (SR-91), the property provides exceptional access to Interstate 5 (I-5) and I 605, as well as proximity to Long Beach Airport and several Metrolink stations.
Anthony DeLorenzo, Sammy Cemo and Bryan Johnson of CBRE’s Private Capital Partners represented the institutional seller in the transaction.
“This portfolio offered investors a rare opportunity to acquire high-quality, low rise product in one of Southern California’s most supply constrained business corridors,” said DeLorenzo. “Well-located, single story assets with strong fundamentals continue to outperform, and La Palma’s central position between Los Angeles and Orange Counties makes it especially attractive.”
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