{"id":1004235090,"date":"2018-06-15T02:19:22","date_gmt":"2018-06-15T10:19:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004235090"},"modified":"2022-12-07T18:58:57","modified_gmt":"2022-12-08T02:58:57","slug":"cbre-brokers-la-area-office-sale","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cbre-brokers-la-area-office-sale\/","title":{"rendered":"CBRE Brokers LA-Area Office Sale"},"content":{"rendered":"<p>By Keith Loria<\/p>\n<div id=\"attachment_1004235120\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Bridgegate-Plaza.jpg\" target=\"_blank\" rel=\"noopener\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004235120\" data-attachment-id=\"1004235120\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cbre-brokers-la-area-office-sale\/bridgegate-plaza\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Bridgegate-Plaza.jpg\" data-orig-size=\"1203,903\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Bridgegate Plaza\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Bridgegate Plaza&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Bridgegate-Plaza.jpg?w=1024\" class=\"wp-image-1004235120 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Bridgegate-Plaza.jpg\" alt=\"Bridgegate Plaza\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Bridgegate-Plaza.jpg 1203w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Bridgegate-Plaza.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Bridgegate-Plaza.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/06\/Bridgegate-Plaza.jpg?resize=1024,769 1024w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004235120\" class=\"wp-caption-text\">Bridgegate Plaza<\/p><\/div>\n<p>Niagara Water has acquired Bridgegate Plaza, a three-story, 135,000-square-foot, state-of-the-art Class A office building in Diamond Bar, Calif.,&nbsp;from Camphor Partners. Niagara Water is currently processing plans for an interior remodel.<\/p>\n<p>Located at 1440 Bridgegate Plaza Drive, Bridgegate Plaza boasts a stone lobby, sky-lit atrium and parking structure.&nbsp;<em>\u201cBridgegate was 65 percent occupied in an office market with a less than 5 percent vacancy factor<\/em>,\u201d&nbsp;CBRE\u2019s John Bibeau&nbsp;told<em> Commercial Property Executive. \u201cTherefore, this property presented a tremendous upside through lease-up and the creation of outdoor amenities.\u201d<\/em><\/p>\n<h2>A quick&nbsp;turnaround<\/h2>\n<p>Built in 2002, Camphor owned the property for nine months and with the short hold period, Bibeau&nbsp;noted the return was substantial.&nbsp;<em>\u201cThis was an off-market sale transaction as the buyer was initially interested in leasing the majority of the vacant space at the property, but converted their interest into buying as they chose to move their international headquarters into the building,\u201d <\/em>he said.<\/p>\n<p>The location is central to Orange, San Bernardino and Los Angeles counties and near to a wide and skilled labor pool and a variety of housing options. It also offers immediate access to both the 60 and 57 freeways.<\/p>\n<p><em>\u201cThis afforded the buyer the opportunity to consolidate, expand, and relocate their corporate headquarters without negatively impacting their daily operations,\u201d<\/em> Bibeau said.<\/p>\n<p>CBRE\u2019s Bibeau&nbsp;and&nbsp;Steven Saunders&nbsp;handled the sale for Camphor Partners, while Newmark Knight Frank\u2019s Taylor Ing and Lee &amp; Associates\u2019 Paul Earnhart represented bottling company Niagara Water in the deal.<\/p>\n<p>Last month, CBRE fixed the $2.7 million sale of 4800 Medical Center, a <a href=\"https:\/\/www.commercialsearch.com\/news\/cbre-arranges-sale-of-fl-mob\/\">fully leased health-care facility<\/a> in Fort Lauderdale, Fla.&nbsp;<\/p>\n<p><em>Image courtesy of CBRE<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Niagara Water purchased a three-story, 135,000-square-foot asset in Diamond Bar, Calif., and is set to remodel the interior of the building.<\/p>\n","protected":false},"author":451,"featured_media":1004235120,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21808,21783,1594,21742,21747,15],"tags":[32789,32762,36007],"class_list":["post-1004235090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-featured","category-investment","category-los-angeles","category-latest","category-office","category-west","tag-cbre","tag-lee-associates","tag-newmark-knight-frank"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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