Office Properties Offer Better Yields

LONG BEACH, CA—According to Parallel Capital Partners, office properties may be the next big investment wave. In a recent story, GlobeSt.com reported that the commercial real estate investment firm acquired Shoreline Square, a 383-652-square-foot office tower on the water in Long Beach, CA. The building was the firm’s second Southern California acquisition in the last month; the former also an office property the firm purchased for $72 million in San Diego. With so many investors focusing on multifamily and now industrial properties, we sat down with Parallel Capital Partners CEO Matt Root to discuss his interest in the office market and in Southern California. Here is what we discovered:

GlobeSt.com: Parallel has made two major acquisitions in the Southern California market in the past month. Why are you so bullish on Southern California?