Overview

CBRE and Colliers have successfully facilitated the sale of an office property in Cerritos, California, for $10.1 million. The transaction involved a two-story building located at 12898 Towne Center, which spans 80,821 square feet and sits on 4.6 acres of land.

The building, constructed in 1993, is part of the Cerritos Towne Center development and features modern design elements along with large, efficient floor plates. SCAN Health Plan is set to occupy the property following the sale.

Key details

  • Sale price: $10.1 million
  • Location: 12898 Towne Center, Cerritos, California
  • Property size: 80,821 square feet
  • Land area: 4.6 acres
  • Building type: Two-story office building
  • Year built: 1993
  • Part of: Cerritos Towne Center
  • Features: Large, efficient floor plates and modern design
  • Accessibility: Convenient access to Interstate 605 and State Route 91
  • Occupant: SCAN Health Plan
  • Advisors for the receiver: CBRE’s Mark Shaffer, Sean Sullivan, Grant Goldman, Mike Longo, Melissa Moock, and Todd Tydlaska of Colliers
  • Representative for the buyer: CBRE’s Tom Sheets

Context

This sale marks a significant transaction in the Cerritos area, highlighting ongoing interest in office properties within the region, especially those with modern amenities and strategic locations.

What happens next

Following the sale, SCAN Health Plan will take occupancy of the property, which may lead to further developments or changes in the office landscape of Cerritos.

What we don't know yet

Details regarding the identity of the buyer and any specific plans for the property after the sale are not confirmed.