Arcadia-based Positive Investments Inc. purchased that city’s eight-story, 83,250-square-foot Towne Centre Office Building at 150 N. Santa Anita Ave. for $25.6 million, or $307 a square foot, from the Farazian Family Trust in San Francisco.
Avison Young brokers Mark Evanoff and Andrew Berk represented the seller while Positive Investments represented itself.
The property was built in 1972 and is located near the Metro Gold Line Arcadia station. The building’s tenants include Bank of America, Agnes Realty and Ameri Mac Temple Financial.
“This asset had a strong amount of domestic and foreign investor attention, as it is the largest office building in Arcadia and had been under the same ownership for 35 years,” Evanoff said in a statement.
Staff Reporter Ciaran McEvoy can be reached at firstname.lastname@example.org or (323) 556-8337.