SAN DIMAS, CA—180 Via Verde LLC has purchased a50,031-square-foot office building in San Dimas,CA, from New York Life Real Estate Investors. Inaddition to the purchase of the building, 180 Via Verde signed a33,000-square-foot lease with Emergency Groups'Office, which will help to decrease the San Dimas market'soffice vacancy rate by 2.4%.

The buyer purchased the building for $10.2 million.Cushman & Wakefield's JohnMinervini, Robin Dodson, ErikLarson and Chris Tolles represented thebuyer and seller in the transaction, along with RonHeim and John Bibeaufrom the InlandEmpire office who also represented the seller. “The Buyer had atenant in tow in EGO for the vacant 33,000 square feet, and thebuilding was located exactly where EGO wanted to relocate to fromArcadia,” Erik Larson, a Cushman & Wakefield senior director,tells GlobeSt.com about why the buyer leaped at the investmentopportunity. “The San Dimas location was ideal for not onlyemployee commuting, but access to EGO's client base as well.”

The property is located within the 142,000-square-footVia Verde Corporate Plaza. The building will serveas EGO's headquarters and house 220 employees. 180 Via Verde isperforming tenant improvements to the tune of $40 per square foot,before the new tenant takes occupancy. Because the lease willdecrease the vacancy rate by more than 2 percentage points, it maybecome a notable detail in the story of San Dimas' office market,which is already off to a great start.