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CBRE Brokers $73M Sale of El Monte Mixed-Use Property
Majestic Asset Management, Inc. has purchased the 249,000-square-foot Telstar Building in El Monte, CA for $73 million. CBRE brokered the transaction and represented the seller, Rising Realty Partners and Brasa Capital Management.
“The property is fully leased to the County of Los Angeles on a new lease that was completed prior to the sale. This is a very central and efficient property for the County who has been located here for over 20 years,” said Michael Longo, part of the CBRE team that brokered the deal, including Todd Tydlaska, Sean Sullivan, Darla Longo, Will Pike, Melissa Moock, Anthony DeLorenzo and Mark Shaffer.
Situated on 8 acres, the building consists of 67% office and 33% industrial, with a total of 627 parking spaces, and features close proximity to I-10, I-605 and SR-60. The County’s new lease includes an 87,000-square-foot expansion of industrial space.
- ◦Sale/Acquisition
