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California  + Orange County  + Office  | 

CBRE Closes Office Sale to City of Garden Grove

CBRE completed the sale of Garden Grove Plaza at 12966 Euclid St. in Garden Grove for $12.12 million on behalf of a private seller. The firm’s investment sales team of Anthony DeLorenzo, Bryan Johnson and Nick Williams, along with Peter Wells in CBRE’s Orange County office, negotiated the sale to the City of Garden Grove. 

“This building will provide a great option for the City of Garden Grove to expand its operations in one of the tightest real estate markets,” said DeLorenzo. “The current tenancy provides an attractive near-term cash flow for the new owner while also supporting the opportunity to occupy the existing vacant space within the building.”

The five-story glass-and-steel office building sits on a corner lot near Garden Grove City Hall. The property has recently been renovated and is currently at 77% occupancy with a diverse tenant base.

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CBRE's DeLorenzo

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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