Nome Ventures Acquires Office Property In Cerritos For 170977 SF

The Class A office building located at 17777 Center Court Drive in Cerritos, California has been acquired by Nome Ventures. The eight-story building offers 170,977 square feet of office space and was 98 percent leased at the time of sale. Constructed in 2002, the property underwent a full renovation in 2018, which upgraded various features including lobbies, corridors, restrooms, electric vehicle charging stations, and 680 parking spaces. The building is part of the 125-acre master-planned Cerritos Central Business District and sits on a long-term ground lease owned by the City of Cerritos with over 66 years remaining on the term.

Summary of transation details:

• Property Type: Office
• Transaction Amount: Undisclosed
• Market: Cerritos
• Seller's Representative: Mark Shaffer(CBRE), Sean Sullivan(CBRE), Todd Tydlaska(CBRE)
• Buyer: Nome Ventures
• SF: 170977

The seller in this transaction, an undisclosed institutional investor, was represented by a team from CBRE consisting of Todd Tydlaska, Sean Sullivan, Mike Longo, Anthony DeLorenzo, and Mark Shaffer. On the buyer's side, Nome Ventures proceeded without external representation. Additionally, Greg Grant from CBRE's Debt & Structured Finance team facilitated a $26.7 million loan for Nome Ventures.