Sunny Hills Buys Office Tower For $38M
- Mar 23, 2017
Los Angeles—Sunny Hills Management Co. Inc. (SHM) acquired the 225,920-square-foot class A office tower at 100 Barranca in West Covina, Calif. The 1987 property sold through a Ten-X online real estate auction for $37.5 million.
The 13-story building is currently 50 percent occupied. The NGKF team led by Taylor Ing and Drew Sanden, senior managing directors, along with Scott Maples, senior associate, will be handling the leasing efforts in collaboration with SHM.
The owner will also relocate its corporate headquarters to 9,000 square feet of space in the building. The West Covina-based firm focuses on value-add acquisitions in SoCal and intends to reposition the asset. Upgrades will include user-oriented outdoor spaces, new building systems and a more inviting lobby and entry experience, as well as building top signage.
“This location is unique in that it draws workers from Los Angeles, Inland Empire and north Orange County. There are numerous transportation options that benefit tenants and the property is surrounded by more than 2 million square feet of walkable retail amenities including a fitness center, restaurants, shopping and hotels,” said Sanden in prepared remarks.
The asset is on I-10 and 19 miles from Ontario Airport International.
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