CBRE’s Investment Properties-So Cal team is pleased to announce the sale of Norco Medical, located at 1901 Town & Country Drive in Norco, California. At a gross price of $6,250,000 ($390 PSF), the transaction reflected a year one cap rate of 6.12%. The three-tenant project totals 16,036 square feet and was 100% leased at the time of sale.
Gary Stache, Anthony DeLorenzo, Doug Mack, Sammy Cemo, Bryan Johnson and John Oien of CBRE represented the seller, a private high-net-worth investor. The buyer, Paras Properties, is a private investor.
Several of our recent transactions were conducted within a competitive bidding environment, resulting in multiple offers from investors who were sourced through multiple channels. If you would like us to advise you on how to maximize the value of one of your assets, please give us a call.
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Specializing in the sale of Office, Medical Office, and Industrial properties in the Pacific West.
Since 2015, our team has sold 221 transactions valued in excess of $3.2 billion.
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