The two-story, concrete tilt-up building is on 3.9 acres at 5460 East La Palma Ave. and is 100% leased, according to Argus, which represented itself in the transaction. The stand-alone building houses the offices for Pacific Bell's directory business and produces the Smart Yellow Pages directories for Southern California and Nevada.
The Pac Bell building was completed in 1986 and was renovated extensively in 1997. It is one of a number of California properties owned by Argus, which owns a portfolio of commercial properties on behalf of itself and its investors.
Argus president and CEO, Richard Gee, says the company was attracted to the building because of the quality tenant and the commitment that Pac Bell has made in capital improvements and FF&E in the building.
Seller Limar Realty Corp. was represented by Mark Ziemendorf and Sam Wright of Cornish Carey.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 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.
