CBRE Facilitate $10.1 Million Sale of 80,821 Sq. Ft. Office Property

CBRE facilitated the $10.1 million sale of an 80,821 square-foot office property at 12898 Towne Center in Cerritos, Calif. SCAN Health Plan will occupy the property.

CBRE’s Mark Shaffer, Sean Sullivan, Grant Goldman, Mike Longo and Melissa Moock, as well as Collier’s Todd Tydlaska, advised the receiver, Ryan C. Baker of Verax Business Group, in the transaction. CBRE’s Tom Sheets represented the buyer.

"Leveraging a highly targeted marketing strategy, CBRE quickly identified and engaged the ideal owner-user for this building, culminating in the successful sale to SCAN Health," said Goldman, associate. "This efficient process is a testament to our team's ability to precisely match unique properties with the perfect buyer and deliver outstanding value even in a challenging market."

The two-story building is situated on 4.6 acres at the convergence of Los Angeles County, Orange County and the Inland Empire. Built in 1993, as part of the three-phase Cerritos Towne Center, the building features large, efficient floor plates, a modern design, and convenient access to Interstate 605 and State Route 91.