Office Vacancy Drops by 2.4%

SAN DIMAS, CA—180 Via Verde LLC has purchased a 50,031-square-foot office building in San Dimas, CA, from New York Life Real Estate Investors. In addition to the purchase of the building, 180 Via Verde signed a 33,000-square-foot lease with Emergency Groups’ Office, which will help to decrease the San Dimas market’s office vacancy rate by 2.4%.

The buyer purchased the building for $10.2 million. Cushman & Wakefield‘s John Minervini, Robin Dodson, Erik Larson and Chris Tolles represented the buyer and seller in the transaction, along with Ron Heim and John Bibeaufrom the Inland Empire office who also represented the seller. “The Buyer had a tenant in tow in EGO for the vacant 33,000 square feet, and the building was located exactly where EGO wanted to relocate to from Arcadia,” Erik Larson, a Cushman & Wakefield senior director, tells GlobeSt.com about why the buyer leaped at the investment opportunity. “The San Dimas location was ideal for not only employee commuting, but access to EGO’s client base as well.”