Anchor Point Capital, a commercial real estate advisory firm specializing in net lease properties nationwide, arranged the $12.2-million sale of Plaza Diamond Bar, a two-building property located in Diamond Bar. The transaction included the off-market sale of a nearly 25,000-square-foot mixed-use office building and an adjacent 8,000-square-foot, freestanding multi-tenant retail building.
The two properties were acquired by two separate buyers, both locally based private investors. The office building at 2040 S. Brea Canyon Rd. sold as an all-cash deal, while the retail building at 2020 S. Brea Canyon Rd. sold with a creative seller financing structured by Anchor Point Capital. The seller of both assets was a partnership led by Metro Properties, LLC.
Eric Vu, managing principal of Anchor Point Capital, said, “These sale transactions demonstrate that office still has life, and certain office assets can generate strong investor interest. In this case, the value of a quasi-medical campus situated on a high-profile freeway location in a suburban environment drove demand and price premiums higher than expected. While it is true we are seeing a softening for urban office assets, that interest has been diverted to towards suburban office, as was the case for this MXU office building at Plaza Diamond Bar.”
