CBRE facilitated the $12.38-million sale of a 44,953-square-foot office portfolio located at 24 and 26 Centerpointe Dr. in La Palma. A local 1031 private investor acquired the property at $275 per square foot, yielding a 7.6% year-one cap rate. CBRE National Office Partners’ Anthony DeLorenzo, along with Sammy Cemo and Bryan Johnson of CBRE’s Private Capital Partners, represented the institutional seller.
“This portfolio offered investors a rare opportunity to acquire high-quality, low‑rise product in one of Southern California’s most supply‑constrained business corridors,” said DeLorenzo. “Well-located, single‑story assets with strong fundamentals continue to outperform, and La Palma’s central position between Los Angeles and Orange Counties makes it especially attractive.”
The portfolio includes two high-image, single-story office-flex buildings situated within a landscaped campus setting. The property features recent multimillion‑dollar common‑area upgrades, a shared association lounge and efficient surface parking. It provides convenient access to Interstate 5 and I‑605, with proximity to Long Beach Airport and several Metrolink stations.
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