Bakersfield Office Building Changes Hands

Seller Adler Realty Investments had acquired the 151,124-square-foot property in 2005 as part of a nearly $56 million portfolio deal.
Cal Twin Towers. Image courtesy of Adler Realty Investments

Adler Realty Investments has sold Cal Twin Towers, a 151,124-square-foot office property in Bakersfield, Calif., to a private investor. Cushman & Wakefield represented the seller. 

Adler had purchased the property from Arden Realty as part of a larger, $55.6 million portfolio deal in 2005, according to Yardi Matrix. During the investor’s 15 years of ownership, it renovated the asset, recently upgrading the energy systems with a solar installation. The property’s tenant roster includes Omni Healthcare, Regus, Progressive Insurance and Principal Life.

Located on 8 acres at 4900 California Ave., the property is 3 miles from downtown Bakersfield and 5 miles from the city’s municipal airport. The property is a short distance from two retail centers. The asset is also within 4 miles of a 118,595-square-foot self storage facility which changed hands in October.

Cushman & Wakefield’s team included Senior Directors Alex Belfour and Jeff Andrew, as well as Sales Associate Scott Salters and Marketing Specialist Susan Moreno.