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Centerpointe Portfolio 3 Office Properties Offered at $33,186,000 in La Palma, CA
INVESTMENT HIGHLIGHTS
- 100% LEASED LOW-RISE OFFICE PORTFOLIO OPPORTUNITY WITH SIGNIFICANT UPSIDE AND FLEXIBLE INVESTMENT STRATEGIES
EXECUTIVE SUMMARY
Investment Highlights
100% LEASED LOW-RISE OFFICE PORTFOLIO OPPORTUNITY WITH SIGNIFICANT UPSIDE AND FLEXIBLE INVESTMENT STRATEGIES
* High-Image, Campus-Environment Offering | Unique opportunity to acquire a distinguished portfolio in one of the most dominant business regions in the world. The 4 single-story portfolio is located within a campus setting with lush landscaping, recent multi-million dollar common area upgrades, and an association lounge space. It offers convenient surface parking, excellent egress/ingress with direct freeway access, and a high-traffic location with tremendous growth.
* Ease of Ownership | The NNN leases provide ease of ownership and security from owning in one of the safest real estate markets in the U.S. New ownership will enjoy passive, durable cash flow during the investment hold.
* Great Tenant Roster | The 100% leased, 4-building portfolio consists of 10 tenants including the likes of Convergint Technologies, ISEC and Honeywell International (Moody's A2 Credit Rated) to name a few. These tenants have a weighted average lease term remaining (WALT) of 3.64 years.
STRONG MARKET FUNDAMENTALS
* Favorable Suburban Low-Rise Trends | Over the last decade, growth among low-rise products has been robust, out-pacing high-rise products in vacancy compression and rent growth. This trend is expected to continue into the foreseeable future.
* Limited Availability Despite Demand | According to CoStar, the direct vacancy rate for the La Palma/Buena Park low-rise office/flex submarket is 7.2% in YTD 3Q24, which is below the historical average and with zero new construction in the pipeline.
RENOWNED ENTERTAINMENT LOCATION WITH EXPANDING RESORT AMENITIES
* Highly Desirable Location | La Palma is a meeting point between Los Angeles and Orange Counties. This central location has convenient freeway access and offers ease of commute for the area’s businesses and tenants, as well an affordable
alternative to other costly areas of Southern California.
* Multi-Modal Transportation Access | The surrounding multimodal transit hub offers ease of commute for the region’s workforce, as well as proximity to workforce and executive housing. Located immediately off SR-91 freeway, the asset has superb access to I-5 and I-605, as well as Long Beach International Airport and several Metrolink stations.
100% LEASED LOW-RISE OFFICE PORTFOLIO OPPORTUNITY WITH SIGNIFICANT UPSIDE AND FLEXIBLE INVESTMENT STRATEGIES
* High-Image, Campus-Environment Offering | Unique opportunity to acquire a distinguished portfolio in one of the most dominant business regions in the world. The 4 single-story portfolio is located within a campus setting with lush landscaping, recent multi-million dollar common area upgrades, and an association lounge space. It offers convenient surface parking, excellent egress/ingress with direct freeway access, and a high-traffic location with tremendous growth.
* Ease of Ownership | The NNN leases provide ease of ownership and security from owning in one of the safest real estate markets in the U.S. New ownership will enjoy passive, durable cash flow during the investment hold.
* Great Tenant Roster | The 100% leased, 4-building portfolio consists of 10 tenants including the likes of Convergint Technologies, ISEC and Honeywell International (Moody's A2 Credit Rated) to name a few. These tenants have a weighted average lease term remaining (WALT) of 3.64 years.
STRONG MARKET FUNDAMENTALS
* Favorable Suburban Low-Rise Trends | Over the last decade, growth among low-rise products has been robust, out-pacing high-rise products in vacancy compression and rent growth. This trend is expected to continue into the foreseeable future.
* Limited Availability Despite Demand | According to CoStar, the direct vacancy rate for the La Palma/Buena Park low-rise office/flex submarket is 7.2% in YTD 3Q24, which is below the historical average and with zero new construction in the pipeline.
RENOWNED ENTERTAINMENT LOCATION WITH EXPANDING RESORT AMENITIES
* Highly Desirable Location | La Palma is a meeting point between Los Angeles and Orange Counties. This central location has convenient freeway access and offers ease of commute for the area’s businesses and tenants, as well an affordable
alternative to other costly areas of Southern California.
* Multi-Modal Transportation Access | The surrounding multimodal transit hub offers ease of commute for the region’s workforce, as well as proximity to workforce and executive housing. Located immediately off SR-91 freeway, the asset has superb access to I-5 and I-605, as well as Long Beach International Airport and several Metrolink stations.
PROPERTY FACTS
| Price | $33,186,000 | Number of Properties | 3 |
| Price / SF | $333.81 / SF | Individually For Sale | 1 |
| Cap Rate | 8.30% | Total Building Size | 99,417 SF |
| Sale Type | Investment | Total Land Area | 6.34 AC |
| Status | Active |
| Price | $33,186,000 |
| Price / SF | $333.81 / SF |
| Cap Rate | 8.30% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 1 |
| Total Building Size | 99,417 SF |
| Total Land Area | 6.34 AC |
PROPERTIES
| PROPERTY NAME / ADDRESS | PROPERTY TYPE | SIZE | YEAR BUILT | INDIVIDUAL PRICE |
|---|---|---|---|---|
| 20 Centerpointe Dr, La Palma, CA 90623 | Office | 56,175 SF | 1986 | - |
| 26 Centerpointe Dr, La Palma, CA 90623 | Office | 22,271 SF | 1985 | $7,108,000 |
| 24 Centerpointe Dr, La Palma, CA 90623 | Office | 20,971 SF | 1985 | - |
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