CBRE Facilitated the $27.5 Million Sale of Tustin Financial Plaza

CBRE negotiated the $27.5 million sale of the Tustin Financial Plaza, a five building multi-tenant office property in Tustin, Calif. A local investment firm purchased the property. CBRE Investment Properties' Anthony DeLorenzo, Sammy Cemo and Bryan Johnson, along with Greg Sullivan represented the seller, Sagard Real Estate, in the transaction.

"The property offers a variety of investment opportunities for the new ownership," said DeLorenzo, vice chairman at CBRE. "This was an extremely rare opportunity to purchase an 8.56-acre office property, as reflected by the strong market demand and 22 offers we received."

The five-building plaza is located at 17772, 17782, 17822, 17852 and 17862 East 17th Street in north Tustin. Four of the five buildings are two-story, and the remaining four-story. Combined, the five buildings total 185,180 sq. ft.

Built in 1973, the plaza was 70% occupied at the time of sale. The property has ample parking, with 533 spaces. The plaza is on 8.56 acres on the southeast corner of 17th Street and Prospect Avenue, minutes from State Route 55.