The Olson Company Acquires Office Campus In Monterey Park For $24.85 Million

The Olson Company acquired an office campus located at 601 Potrero Grande Drive and 2100 Saturn Street in Monterey Park, California. The property encompasses 120,191 square feet of space on a 7.9-acre lot and was purchased for $24.85 million. The transaction price translates to $207 per square foot. This acquisition is part of the buyer's plan to redevelop the site into a residential community.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $24,850,000
• Square Footage: 120,191
• Address: 601 Potrero Grande Drive & 2100 Saturn Street
• Market: Monterey Park, CA
• Buyer: The Olson Company
• Seller: Steve Gozini - BH Properties
• Buyer's Representative: Ryan Campbell - NAI Capital Commercial
• Seller's Representatives: Andrew Harper, Jeffrey Bramson & Will Poulsen - JLL
• Acres: 7.9

This transaction highlights the roles of key individuals in the deal, with Ryan Campbell representing The Olson Company through NAI Capital Commercial. The seller was represented by a team from JLL, which included Andrew Harper, Jeffrey Bramson, and Will Poulsen. The deal underscores the rising demand for office-to-housing redevelopment opportunities in the Southern California market.