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Bldg H 20 Centerpointe Dr

56,175 SF 100% Leased Office Building La Palma, CA 90623 £13,457,358 (£240/SF) 7% Net Initial Yield

Investment Highlights

  • STABILIZED LOW-RISE OFFICE/FLEX OPPORTUNITY IN MID-COUNTIES CAMPUS SETTING

Executive Summary

STABILIZED LOW-RISE OFFICE/FLEX OPPORTUNITY IN MID-COUNTIES CAMPUS SETTING
* High-Image, Campus-Environment Offering | Unique opportunity to acquire a distinguished asset in one of the most dominant business regions in the world. The low-rise asset is located within a campus setting with lush landscaping, recent multimillion-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 high-growth potential.

* 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 enjoys passive, durable cash flow during the investment period.

* Strong In-Place Cash Flow with Income Growth | The existing rent roll provides an attractive income stream with annual increases. With only one tenant expiring prior to 2029, the offering provides incredible long-term stability and security.
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 office/flex submarket is 6.9% in YTD4Q23, 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

Sale Type
Investment
Property Type
Office
Building Size
56,175 SF
Building Class
B
Year Built
1986
Price
£13,457,358
Price Per SF
£240
Net Initial Yield
7%
NOI
£942,015
Percent Leased
100%
Tenancy
Multiple
Number of Floors
1
Typical Floor Size
55,060 SF
Building FAR
0.36
Land Acres
3.57 AC
Zoning
B-1 - Mixed-Use Business
Parking
194 Spaces (3.45 Spaces per 1,000 SF Leased)

Amenities

  • Property Manager on Site
  • Natural Light

Space Availability

  • Space
  • Size
  • Space Use
  • Condition
  • Available
  • 1st Fl-Ste 100
  • 8,783 SF
  • Office
  • Full Build-Out
  • 60 Days

Call to Show. Plug and Play Available.

Space Size Space Use Condition Available
1st Fl-Ste 100 8,783 SF Office Full Build-Out 60 Days

1st Fl-Ste 100

Size
8,783 SF
Space Use
Office
Condition
Full Build-Out
Available
60 Days

1st Fl-Ste 100

Size 8,783 SF
Space Use Office
Condition Full Build-Out
Available 60 Days

Call to Show. Plug and Play Available.

PROPERTY TAXES

PROPERTY TAXES

Parcel Number
276-081-52
Land Assessment
£4,620,907
Improvements Assessment
£2,866,672
Total Assessment
£7,487,580
  • Listing ID: 30759297

  • Date on Market: 24/01/2024

  • Last Updated:

  • Address: 20 Centerpointe Dr, La Palma, CA 90623

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