Anchor Point Closes Sale of Office and Retail in Diamond Bar
Anchor Point Capital, a commercial real estate advisory firm specializing in net lease properties nationwide, arranged the $12.2-million sale of Plaza Diamond Bar, a two-building property located in Diamond Bar. The transaction included the off-market sale of a nearly 25,000-square-foot mixed-use office building and an adjacent 8,000-square-foot, freestanding multi-tenant retail building.
The two properties were acquired by two separate buyers, both locally based private investors. The office building at 2040 S. Brea Canyon Rd. sold as an all-cash deal, while the retail building at 2020 S. Brea Canyon Rd. sold with a creative seller financing structured by Anchor Point Capital. The seller of both assets was a partnership led by Metro Properties, LLC.
Eric Vu, managing principal of Anchor Point Capital, said, “These sale transactions demonstrate that office still has life, and certain office assets can generate strong investor interest. In this case, the value of a quasi-medical campus situated on a high-profile freeway location in a suburban environment drove demand and price premiums higher than expected. While it is true we are seeing a softening for urban office assets, that interest has been diverted to towards suburban office, as was the case for this MXU office building at Plaza Diamond Bar.”
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).