CBRE ANNOUNCES SALE OF 135,000 SF BRIDGEGATE PLAZA OFFICE PROPERTY IN DIAMOND BAR, CA TO NIAGARA WATER
13 Jun 2018
CBRE announced the sale of Bridgegate Plaza, a state-of-the-art office building located in Diamond Bar, CA, to Niagara Water.
CBRE’s John Bibeau and Steven Saunders represented the seller, Camphor Partners in the transaction. Lee & Associates’ Paul Earnhart and Newmark Knight Frank’s Taylor Ing represented the buyer, Niagara Water a bottling company.
Located at 1440 Bridgegate Plaza Drive, the property is an approximately 135,000 square foot, three-story Class-A building featuring a stone lobby, sky-lit atrium, and parking structure. Constructed in 2002, the asset has immediate access to both the 60 and 57 freeways. The property will be delivered vacant in order for the new owners to take occupancy.
“By moving current tenants within the building to other locations, we were able to provide a full building to Niagara Water for their new international headquarters. Bridgegate Plaza held the location, size and parking ratio Niagara Water desired to make the property their new home.” said Landon Wright of Camphor Partners.
“Bridgegate Plaza is located at the intersection of Los Angeles, San Bernardino, and Orange counties; providing unequaled transportation access to the region, a highly educated labor pool, affordable employee housing options, and numerous amenities,” said Bibeau. “This site offered Niagara the rare opportunity to acquire a sizable institutional-quality asset as an owner-user.”The year started with strong office activity in every Greater Los Angeles submarket, driven in particular by large deals signed by media, entertainment, technology, legal and bioscience tenants, according to Q1 research by CBRE. The market’s positive net absorption marked 24 of the past 29 quarters with gains.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.