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Friday, Jun 9, 2023

Cerritos Towne Center Office Building Sells for $24 Million

West Coast Capital Partners, a Torrance-based real estate investment company, has purchased the five-story, 105,000-square-foot 12800 Center Court Drive South in Cerritos for about $24 million, or around $229 per square foot, according to sources close to the deal.

An affiliate of Transpacific Development Co., a Torrance-based developer, was the seller.

Kevin Shannon, Paul Jones, Ken White, Blake Bokosky and Brandon White of NKF Capital Markets represented the seller. The buyer was self-represented.

“12800 Center Court is a quality asset that was developed and maintained by TDC since it was completed nine years ago,” Jones said in a statement. “This building offered the buyer a strong income stream with fixed annual rental increases.”

The property is located on 3.5 acres and features a distinctive dome on its crown. It is located close to the 91 freeway, near the boundary line with Orange County.

It also is located within the Cerritos Towne Center, a 125-acre mixed-use development that includes the Cerritos Center for the Performing Arts, a Trader Joe’s grocery store and multiple restaurants.

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