Chinatown Service Center Acquires Office Building In San Gabriel For $8.2M

Chinatown Service Center acquired a 25,300-square-foot office building at 526 West Las Tunas Drive in San Gabriel, CA for $8.2 million. This transaction marks an owner-user purchase of a long-held asset that had not been on the market in nearly 26 years. The property is a two-story, bank-converted office building sold by 211 LA.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $8,200,000
• Address: 526 West Las Tunas Drive
• Market: San Gabriel, CA
• Square Footage: 25,300
• Price per Square Foot: $324
• Buyer: Peter Ng - Chinatown Service Center
• Seller: 211 LA
• Brokers: Mark Shaffer, Anthony DeLorenzo, Dylan Rutigliano, Natalie Bazarevitsch & Jackie Benavidez - CBRE

This transaction highlights the involvement of multiple brokers representing both the buyer and seller. The demand for well-located owner-user office properties continues to tighten in the San Gabriel Valley, indicating a competitive market environment.