The office building sold for $284 per square foot
LA PALMA, Calif. – June 11, 2025 – CBRE announced the sale of a 21,216-square-foot office property located at 22 Centerpointe Drive in La Palma, Calif., for $6.025 million ($284 per sq. ft.). The buyer, a local owner-user, acquired the asset from an institutional joint venture.
CBRE’s Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su represented the seller in the transaction.
“This transaction reflects the continued demand for well-located, low-rise office assets with strong fundamentals and upside potential,” said DeLorenzo, vice chairman at CBRE. “The property’s strategic location, in-place cash flow, and flexible configuration made it an attractive purchase for the buyer.”
The low-rise office building is situated on a 1.48-acre lot within a campus environment. Located just off the SR-91 freeway, the property offers convenient access to the I-5 and I-605 freeways, providing excellent connectivity to both Los Angeles and Orange counties.
According to CBRE Research, low-rise office buildings had a 10.2% total vacancy rate, outperforming mid- and high-rise assets in both vacancy and rent growth.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
