CBRE Arranges $9 Million Sale of Stewart Plaza in Upland, California

CBRE has arranged the $9 million sale of Stewart Plaza, a 46,527-square-foot office property located at 440 North Mountain Avenue in Upland, Calif. A partnership between a local investor and a medical group acquired the property.

CBRE’s Sammy Cemo, Austin Reuland, Anthony DeLorenzo and Bryan Johnson represented the seller, Stewart Plaza Owner LLC, in the transaction.

"This sale presented a unique opportunity to acquire a well-maintained, income-producing office building with an owner-user occupancy component in a prime medical location," said Cemo. "The recent capital improvements, combined with the property's accessibility to major Southern California markets, San Antonino Regional Hospital and a dense population base, make it an attractive investment in a strong and growing submarket."

The three-story Class A office building has undergone over $1 million in renovations in the past two years, including a roof replacement, elevator modernization, HVAC replacements, lobby upgrades, new lobby and exterior furniture, and a new digital directory.

Strategically located near Interstate 10 (I-10), I-60 and I-210, Stewart Plaza offers easy accessibility throughout the Los Angeles Metro area.