Glendale-based Chase Partners Ltd. has purchased an office building in Monrovia for $18.5 million, NAI Capital announced Dec. 20.
NAI Capital’s Scott Martin and John Martin represented the seller, the Kare Foundation.
The 83,703-square-foot Huntington Oaks Office Center is at 1333 S. Mayflower Ave.
Chase Partners represented itself in the transaction. It plans to renovate the lobby and add an outdoor courtyard, according to NAI Capital. Chase Partners declined to comment on the sale.
The property was 68 percent occupied at the time of the sale.
“The project's strategic location, excellent freeway visibility from the 210 freeway and route access from Myrtle Avenue and Huntington Drive, plus a full floor available for lease with over 200,000 cars per day makes a great signage opportunity for a big tenant,” John Martin said in a statement.
Scott Martin and John Martin will be the leasing agents for the property.
Commercial real estate reporter Hannah Madans can be reached at firstname.lastname@example.org. Follow her on Twitter @HannahMadans
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