Institutional-Quality Office Asset Hits the Market in L.A. County
DIAMOND BAR, Calif., May 10, 2017– Institutional Property Advisors (IPA), a division of Marcus & Millichap specializing in serving institutional and major private real estate investors, is pleased to exclusively present for sale Gateway Corporate Center, a two-story, 87,358-square-foot institutional-quality suburban office building in Diamond Bar, California. The price is to be determined by the market.
“Designed by Hill & Pinkert Architects and built by Cabot, Cabot & Forbes in 1988, the building is currently 95-percent leased by high-quality, long-term tenants such as Graybar Electric Co. and Regus Executive Suites, which account for 46 percent of the building,” says Michael Lawrence, IPA senior director.
“The remainder of the rent roll is composed of well-staggered lease expirations that offer future stability yet still allow the landlord to enhance the revenue stream,” adds David Black, a director of Marcus & Millichap’s National Office and Industrial Properties Group in Long Beach.
Lawrence and Black are representing the seller, an Irvine, California-based investment company.
The building is located at 1370 Valley Vista Drive in Diamond Bar within a 255-acre master-planned business park that is also named Gateway Corporate Center. The Diamond Bar Golf Course is minutes from the property and the 57 and 60 freeway on-ramps are within an approximately five-minute drive.
Situated on nearly six acres on a hillside plateau with panoramic mountain and valley views, the Gateway Corporate Center building features contemporary architecture, dual lobby elevator-served entrances and high-quality interior finishes. Variable bay depths provide the versatility to attract small- and medium-sized tenants.