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News Release: Just Sold – Value Add Medical Office Project Transacted for $10.25M in Upland, CA

Stewart Plaza

Upland, California

JUST SOLD

CBRE’s Investment Properties-SoCal/Phoenix/Vegas team is pleased to announce the sale of Stewart Plaza, at 400 and 440 Mountain Avenue in Upland, California for $10.25 million. The two-building, 84,498-square-foot multi-tenant office and medical office project was 56 percent leased at the time of sale.

Gary Stache, Sammy Cemo, Anthony DeLorenzo, Doug Mack and Bryan Johnson of CBRE represented the seller, a private investor. The buyer was a Long Beach-based Harbor Associates. “The property was one of the true value-add office opportunities in the market,” said Stache.

We continue to observe strong transaction activities despite COVID headwinds. Several of our recent transactions were conducted within a competitive bidding environment, resulting in strong investor interest and multiple offers from different channels and across the United States. If you would like us to advise you on how to maximize the value of one of your assets, please give us a call.

Gary Stache
Lic. 007773736
+1 949 725 8532
gary.stache@cbre.com

Sammy Cemo
Lic. 01958704
+1 949 418 2043
sammy.cemo@cbre.com

Anthony Delorenzo
Lic. 0706686
+1 949 25 8425
anthony.delorenzo@cbre.com

Doug Mack
Lic. 1804056
+1 949 725 571
doug.mack@cbre.com

Bryan Johnson
Lic. 02018612
+1 949 809 3762
bryan.johnson@cbre.com

Specializing in the sale of Office, Medical Office, and Industrial properties in Southern California.

Since January 2020, we have transacted more than 56 assignments for a total consideration in excess of $815M. Additionally, close to two dozen of our current listings are in escrow, with a consideration of more than $200M.

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