Former Blue Shield of CA Offices Trade for Residential Conversion

NAI Capital Commercial executive managing director Ryan Campbell, SIOR, represented The Olson Company in its $24,850,000 acquisition of a 7.9-acre office campus at 601 Potrero Grande Dr. and 2100 Saturn St. in Monterey Park. The campus includes two office buildings totaling 120,191 square feet. The buyer plans to redevelop the property into a new residential community.

Originally built in 1980, the campus was previously owned and occupied by Blue Shield of California. Andrew Harper, Jeff Bramson, and Will Poulsen of JLL represented the seller.

“This acquisition reflects the continued shift toward repositioning well-located office properties into much-needed housing throughout the San Gabriel Valley,” said Campbell. “Large infill redevelopment opportunities like this are increasingly rare. The size, location, and long-term potential of this campus make it exceptionally well-suited to deliver new housing while transforming an underutilized office property into a vibrant residential community.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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