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.
For reprint and licensing requests for this article, CLICK HERE.
Stories You May Also Be Interested In
- DCT Deal Expands Prologis’ So Cal Real Estate Portfolio
- Strength Continues in Q1 as Offices Fill Space
- Miramar Capital Spends $19.1M for Torrance Office Building
- San Dimas Apartment Complex Acquired for $78.5 Million
- Huntington Park Shopping Center Acquired for $23.8 Million
- Two-Story Property in Larchmont Village Sells for $23.5M
- Sirius XM Leases Hollywood Space for West Coast Programming HQ
- Office Buildings in Pasadena, Glendale Hit the Market