California + Los Angeles + Office | March 2, 2023

CBRE Reps Seller in $22M W. Covina Office Deal

The CBRE Capital Markets Investment Properties team of Sammy Cemo, Mark Shaffer, Anthony DeLorenzo, Gray Stache, Bryan Johnson, Steven Saunders and Philip Woodford has represented Quest Capital Partners in the disposition of Atrium on the 10, a 101,000-square-foot office building in West Covina, CA. A local non-profit owner/user purchased the asset for $22.2 million.

According to CBRE research, the San Gabriel Valley has held up well during the office sector struggles, posting the second lowest Q4 2022 vacancy rate of all LA submarkets. “This transaction closed at near asking price, demonstrating the resiliency of quality office products in well-located suburban markets,” commented Cemo.

More than $3 million in capital has been invested into Atrium on the 10 in recent years, including exterior cosmetic enhancements, installation of a living wall, furniture upgrades and building systems. Located on East Garvey Avenue South, the property is surrounded by a variety of retail and dining options.

Connect

Inside The Story

Quest Capital PartnersCBRE's Sammy Cemo

About Mark Nieto

Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.

Order Reprints