Overview

Logos Missions has finalized the acquisition of Plaza Tower, a prominent office building situated in Cerritos, California. This nine-story Class A building is strategically located at 18000 Studebaker Road, approximately 20 miles southeast of downtown Los Angeles.

Originally developed in 1986 and renovated in 2016, Plaza Tower offers a substantial 191,939 rentable square feet of office space. At the time of the sale, the property was 84 percent leased, indicating a healthy interest from tenants.

Key details

  • Property Name: Plaza Tower
  • Location: 18000 Studebaker Road, Cerritos, California
  • Size: 191,939 rentable square feet
  • Building Type: Nine-story Class A office building
  • Year Developed: 1986
  • Year Renovated: 2016
  • Occupancy Rate: 84 percent leased at the time of sale
  • Current Tenants: The Oncology Institute of Hope & Innovation, Thermal Engineering, Premier Workspaces, Fremont University
  • Seller: An institutional seller (name undisclosed)
  • Sale Price: Undisclosed
  • Brokerage Firm: Newmark
  • Representatives: Kevin Shannon, Paul Jones, Ken White, Brandon White

Context

The acquisition of Plaza Tower reflects ongoing investment interest in the Cerritos area, which is strategically located near major transportation routes and serves as a hub for various businesses.

What happens next

Following the acquisition, Logos Missions is expected to manage the property and may explore opportunities to enhance its value and tenant experience.

What we don't know yet

The specific sale price of the Plaza Tower and any future plans by Logos Missions for the property have not been disclosed.