Logos Missions Acquires Cerritos Office Building From Rialto Capital Management And The Koll Company For $31.6M

Rialto Capital Management and the Koll Company have sold a 192,000-square-foot office building in Cerritos to Logos Missions for $31.6 million. This represents a 3% increase from their previous purchase in 2015, when the property was bought for $30.5 million. The office building is located at 18000 Studebaker Road in the Cerritos market.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $31,600,000
• Square Footage: 192,000
• Price per Square Foot: $165
• Market: Cerritos

The sellers of the office building are Rialto Capital Management, represented by Jeff Krasnoff, and The Koll Company, represented by Ray Wirta. The property has approximately one-third of its office space available for lease, with a rental rate of $2.95 per square foot, which is below the average for the Greater Los Angeles area in the third quarter. It is worth noting that the sale price of $31.6 million represents a 3% increase from the previous purchase in 2015.