CBRE Brokers $12.38 Million Sale of Fully Leased Office Portfolio

CBRE facilitated the $12.38 million sale of a 44,953 square-foot office portfolio located at 24 and 26 Centerpointe Drive in La Palma, Calif. A local 1031 private investor acquired the property at $275 per square foot, yielding a 7.6% year-one cap rate.

CBRE National Office Partners’ Anthony DeLorenzo, along with Sammy Cemo and Bryan Johnson of CBRE’s Private Capital Partners, represented the institutional seller in the transaction.

“This portfolio offered investors a rare opportunity to acquire high-quality, low‑rise product in one of Southern California’s most supply‑constrained business corridors,” said DeLorenzo. “Well-located, single‑story assets with strong fundamentals continue to outperform, and La Palma’s central position between Los Angeles and Orange Counties makes it especially attractive.”

The portfolio includes two high-image, single-story office-flex buildings situated within a landscaped campus setting. The property features recent multi‑million‑dollar common‑area upgrades, a shared association lounge and efficient surface parking.

Located immediately off State Route 91 (SR-91), the property provides exceptional access to Interstate 5 (I-5) and I‑605, as well as proximity to Long Beach Airport and several Metrolink stations.