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News Release: JUST SOLD: Medical Office Building Trades for $5.9 Million in West Covina

JUST SOLD: WEST COVINA MEDICAL SQUARE

1539, 1541-1555 W. GARVEY AVE. NORTH | WEST COVINA, CALIFORNIA

TRANSACTION SUMMARY

CBRE’s Investment Properties-So Cal team is pleased to announce the sale of 1539, 1541-1555 W. Garvey Ave. North located in West Covina, CA at a price of $5,900,000 ($261/SF). The 22,564 SF medical office building was 100% leased at the time of sale.

Mark Shaffer, Gary Stache, Anthony DeLorenzo, Doug Mack, Damon Feldmeth and Jackie Benavidez of CBRE represented the seller, De Pietro Limited. The buyer was in a 1031 exchange and was represented by an outside broker. The sale process involved a competitive bidding environment with 8 offers submitted.

Several of our last transactions have involved 1031 exchange buyers paying premium pricing. If you would like us to advise you on how to maximize the value of one of your assets, please give us a call.

CONTACT US

Mark Shaffer | Los Angeles
Lic. 01253743
+1 213 613 3758
mark.shaffer@cbre.com

Gary Stache
Lic. 00773736
+ 1 949 725 8532
gary.stache@cbre.com

Anthony DeLorenzo
Lic. 01706686
+ 1 949 725 8425
anthony.delorenzo@cbre.com

Doug Mack
Lic. 01804065
+ 1 949 725 8571
doug.mack@cbre.com

Thomas Adelson | West Los Angeles
Lic. 01965595
+1 310 550 2514
thomas.adelson@cbre.com

Matt Pourcho | San Diego
Lic. 01705763
+1 858 546 4622
matt.pourcho@cbre.com 

Michael Spiezia
Lic. 01983788
+1 949 725 8471
michael.spiezia@cbre.com

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