OneLegacy Buys LA-Area HQ
- Jul 12, 2019
OneLegacy has acquired The Atrium, a 98,772-square-foot office property in Los Angeles’ San Gabriel Valley for $18.4 million from Proficiency Capital. The new owner plans to move its headquarters into the building.
CBRE’s Vindar Batoosingh represented the buyer in the transaction. The seller had purchased the asset for $5.3 million from weapons manufacturer Northrop Grumman in late 2006, according to Yardi Matrix.
Located on a 4.4-acre parcel at 1303 W. Optical Drive in Azusa, Calif., The Atrium is situated along the southern side of Interstate 210. The building is a short walk from the Irwindale light rail station, which directly connects the area to downtown Los Angeles, approximately 20 miles away. The property is less than 15 miles from Cal Poly Pomona, which unveiled its new sustainable student center earlier this year.
The three-story building was completed in 1987, and the previous owner last renovated the property in 2007. OneLegacy’s long-term plans for the asset include the addition of a recovery center and a conference center. The firm currently operates out of Rising Realty Partners’ The Park DTLA in downtown Los Angeles.