18 Centerpointe Dr 54,129 SF Vacant Office Building La Palma, CA 90623 $20,024,473 CAD ($369.94 CAD/SF)

OWNER-USER OFFICE/FLEX OPPORTUNITY IN FREEWAY-ADJACENT LOCATION
* High-Image, Campus-Environment Offering | Unique opportunity to acquire a distinguished asset in one of the most dominant business regions in the world. The low-rise asset is located within a campus setting with lush landscaping, recent multimillion-dollar common-area upgrades, and an association lounge space. It offers convenient surface parking, excellent egress/ingress with direct freeway access, and a high-traffic location with high-growth potential.

* Rare User Opportunity | The property offers a unique larger 2-story office/flex owner-user opportunity in a market with very little office supply available for users.

* Use Flexibility | Currently built out as office, the property does have 3 ground level doors that have been drywalled over. New ownership can easily transition the property to be more flex in nature by removing the drywall and creating warehouse space. Or, alternatively, an office user can maintain the property in the current condition or replace the ground level doors with storefronts, glass rollup doors, etc. to further enhance the exterior light into the space.
STRONG MARKET FUNDAMENTALS
* Core Market | Orange County is among the top investment markets in the Americas in 2023 among investors, reflecting the county's resilient industries, stable economic fundamentals and sustained rent growth. With strong employment and an attractive quality of life, Orange County is a highly sought-after gateway market.

* Limited Availability Despite Demand | According to CoStar, the direct vacancy rate for the La Palma/Buena Park office/flex submarket is 6.9% in YTD4Q23, which is below the historical average and with zero new construction in the pipeline.
RENOWNED ENTERTAINMENT LOCATION WITH EXPANDING RESORT AMENITIES
* Multi-Modal Transportation Access | The surrounding multi-modal transit hub offers ease of commute for the region’s workforce, as well as proximity to workforce and executive housing. Located immediately off SR-91 freeway, the asset has superb access to I-5 and I-605, as well as Long Beach International Airport and several Metrolink stations.

* Resort-Style Amenities | The asset's location within Centerpointe La Palma is intrinsically irreplaceable, with growing surrounding amenities: Cerritos Towne Centre, a 46-acre, master planned shopping, dining, and entertainment complex and Buena Park Entertainment Zone, an entertainment destination anchored by the world-famous Knott's Berry Farm, a 160-acre amusement park with 4 million annual visitors.