On the Market: 5 Interesting Listings for August
This month's listings include several modern office buildings on the West Coast; a top-of-the line medical center in Fort Wayne, Ind.; and a recently completed retail center in Kennewick, Wash.
On the Market is a monthly department curating the most interesting recent for-sale CRE assets for less than $10 million. If you have a commercial real estate asset that you’d like to share with our readers, please email it to Associate Editor Roxana Baiceanu.
100 S. State College Blvd. Image courtesy of Yardi Matrix
Brea Place
Location: 100 S. State College Blvd., Brea, Calif.
Price: $5.6 million
Building Size: 16,897 square feet
Property Type: Office
Year Built: 1988
Highlights: The two-story building is part of a six-building campus on both the east and west sides of South State College Blvd., immediately adjacent to the 1.3 million-square-foot Brea Mall; it features a long-term lease and serves as a bank branch for Manufacturers Bank; went through cosmetic renovations in 2016.
Contact: Anthony DeLorenzo, CBRE, 949-725-8425
13017 Artesia Blvd. Image courtesy of Yardi Matrix
Pacifica Plaza
Location: 13017 Artesia Blvd., Cerritos, Calif.
Price: $7.3 million
Building Size: 46,748 square feet
Property Type: Office
Year Built: 1980
Highlights: A value-add investment, the multi-tenant property consists of 4 buildings and spans 2.5 acres; it also includes 147 parking spaces and has major street exposure on Artesia Blvd.
Contact: Gary Stache, CBRE, 949-725-8532
10315 Dupont Circle Drive W.
Location: Fort Wayne, Ind.
Price: $3 million
Building Size: 13,073 square feet
Property Type: Medical Office
Year Built: 2008
Highlights: Located in Indiana’s prestigious Dupont Business & Medical Park Association, the building is fully occupied by credit tenants; it is less than two miles west of Interstate 69 at interchange 316 and boasts beautiful lake views and front-door parking; Cap Rate is approximately 7.6 percent.
Contact: Brad Sturges, CBRE, 260-424-8448
2299 Technology Drive. Image via Google Street View
Finance Center
Location: 2299 Technology Drive, O’Fallon, Mo.
Price: $8 million
Building Size: 43,450 square feet
Property Type: Office
Year Built: 2001
Highlights: The property sits on a 4.5-acre lot and is part of the larger development of WingHaven, started in 1999; it is 94 percent leased with several tenants signing the roster since 2012 including anchor tenants Midwest Bank Center and Webster University; visible from Interstate 64 and accessible from the signalized intersection of WingHaven Blvd. and Technology Drive; Cap Rate is approximately 4.5 percent.
Contact: Adam O’Sullivan, Marcus & Millichap, 317-218-5327
924 N. Columbia Center Blvd. Image via Google Street View
Columbia Center Tower South
Location: 924 N. Columbia Center Blvd., Kennewick, Wash.
Price: $3.3 million
Building Size: 23,880 square feet
Property Type: Retail
Year Built: 2014
Highlights: The building is located in the area’s retail core and is fully occupied by service-based retail, professional and medical office tenants; it boasts traffic counts of nearly 30,000 vehicles per day; population within a 3-mile radius grew by approximately 50 percent since 2000; the property features long-term leases with scheduled rent increases from every tenant.
Contact: Bryan Mayer, Marcus & Millichap, 206-826-5700
All information is property of the respective brokerage firms or broker.
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