CBRE Represents Seller In $12.38M Sale Of Office Campus In La Palma

A dual-building office campus located at 24–26 Centerpointe Drive in La Palma has been sold for a total of $12.38 million. The campus encompasses 44,953 square feet, translating to a price per square foot of $275. This transaction highlights the ongoing interest in stabilized and well-located office assets within the recovering Orange County market.

Summary of transation details:

• Property Type: Office
• Transaction Amount: $12,380,000
• Square Footage: 44,953
• Price Per Square Foot: $275
• Address: 24-26 Centerpointe Drive
• Market: La Palma
• Buyer Type: Local 1031 exchange buyer
• Brokers: Anthony DeLorenzo, Sammy Cemo & Bryan Johnson - CBRE

The transaction was facilitated by CBRE, who represented the seller in this deal. The brokers involved were Anthony DeLorenzo, Sammy Cemo, and Bryan Johnson. The sale reflects a trend where investors are willing to pay premiums for office properties in Southern California as the market shows signs of recovery.