Olson Co. Buys Office Property in Monterey Park, California for $24.8M, Plans Residential Conversion

The big payoff in converting old office buildings to residential use

Done right, it’s a win-win for housing and the environment

Olson Co. Buys Office Property in Monterey Park, California for $24.8M, Plans Residential Conversion

MONTEREY PARK, CALIF. — The Olson Co. has acquired a 7.9-acre office campus in Monterey Park, located east of downtown Los Angeles, for $24.8 million. The buyer plans to redevelop the two-building, 120,191-square-foot property into a residential community. Originally built in 1980, the campus was previously owned and occupied by Blue Shield of California. The property includes a three-story, 91,363-square-foot office building at 601 Potrero Gran…

Former Blue Shield of CA Offices Trade for Residential Conversion

NAI Capital Commercial executive managing director Ryan Campbell, SIOR, represented The Olson Company in its $24,850,000 acquisition of a 7.9-acre office campus at 601 Potrero Grande Dr. and 2100 Saturn St. in Monterey Park. The campus includes two office buildings totaling 120,191 square feet. The buyer plans to redevelop the property into a new residential community. Originally built in 1980, the campus was previously owned and occupied by Blu…