Jeff Cole of Trammell Crow Co. tells GlobeSt.com that the multi-tenant office building is 100% leased and had been owned by the seller for about four years. Cole represented the seller, along with Trammell Crow's Rick Putnam and Ron Heim. Cole tells GlobeSt.com that the purchase price of $138 per sf is "right about the middle of the market" for comparable buildings in the area.
The property is a stand-alone, steel-frame building that was completed in 1986. It is near the 225-acre Gateway Corporate Center, a business center and office project in the city of Diamond Bar that includes more than 3 million sf of office space in about 20 buildings.
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