Search
 

Union Bank Buys Back Data Center for $50 Mil

LOS ANGELES-The bank buys back the 420,000-sf Monterey Park data center it built but then sold in the 1980s.

By Erin Cassin | Updated on January 09, 2001

LOS ANGELES-A 420,000-sf office building in Monterey Park has been sold back to its original developer, San Francisco-based Union Bank of California, for nearly $50 million.

The four-story facility, which houses Union Bank’s Southern California data center, stands on eight acres at 1980 Saturn St. Union Bank developed the property in 1985 and then sold it the same year to Florida-based investment firm Echelon Corp. through a sale-leaseback deal.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.