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Newmark Completes $14M Sale of Garden Grove Office Property
The Brooklyn Companies has purchased the Concorde Career College building, a two-story, 45,000-square-foot office property and the rights to a 4-acre land parcel in Garden Grove, CA. Newmark arranged the $14 million sale, as Sean Fulp, Ryan Plummer, Mark Schuessler, Paul Jones and Brandon White represented the seller, Pacific Development Partners, LLC. The firm’s Norman Lee represented the buyer and James Roth helped secure financing.
The Euclid Street property is 100% leased to Concorde Career College, a medical and dental vocational school. “The reliable, long-term income stream associated with the tenant’s use coupled with resilient market fundamentals set this offering apart,” said Fulp. “In touring the property, the growing demand for healthcare professionals is apparent.”
The Garden Grove property is ideally positioned in Orange County, with nearby access to major freeways including State Route 22 and Interstates 5 and 405. Several amenities are also located in the immediate area.
- ◦Sale/Acquisition
