Robert Nicholson Acquires Cameron Court Office Building In West Covina For $15.45M

The property involved in the transaction is located at 1501 West Cameron Avenue, West Covina, and is an office asset type with a sale price of $15,450,000. The square footage of the property is 118,660, translating to a price per square foot of $130.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $15,450,000
• Address: 1501 West Cameron Avenue
• Market: West Covina
• Buyer: Robert Nicholson
• Seller: Stacy Yu
• Seller's Rep: Jamie Harrison, Christopher Larimore & Vincent Molitor - Lee & Associates
• Square Footage: 118,660
• Price Per Square Foot: $130

The transaction was characterized by a stabilized rent roll with occupancy upside, and a significant aspect involved leasing a large block of contiguous space before closing, which mitigated risk and affirmed rent assumptions in underwriting. The current demand for well-located Class B office spaces in the San Gabriel Valley remains steady, particularly from medical and social services tenants seeking suites in the range of 1,000 to 10,000 square feet.