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1031 Investor Acquires Two-Building Office/Flex Portfolio
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1031 Investor Acquires Two-Building Office/Flex Portfolio
CBRE facilitated the $12.38-million sale of a 44,953-square-foot office portfolio located at 24 and 26 Centerpointe Dr. in La Palma. A local 1031 private investor acquired the property at $275 per square foot, yielding a 7.6% year-one cap rate. CBRE National Office Partners’ Anthony DeLorenzo, along with Sammy Cemo and Bryan Johnson of CBRE’s Private Capital Partners, represented the institutional seller. “This portfolio offered investors a rare…
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