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500 S Kraemer Boulevard - Brea Park Centre - 500 Brea Park Center, Brea, CA

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500 S Kraemer Boulevard - Brea Park Centre - 500 Brea Park Center

Brea, CA 92821-6728 - Brea/La Habra Submarket

Property Type:Office Sub Type:- Status:Existing , Renov 1999 Year Built:1979
Stories:3 Typical Floor:31,497 SF Building Size:94,492 SF
For Sale Price:$21,733,000 Price/SF:$230.00
Cap Rate:7.04 %
Parking:Ratio of 4/1,000 SF Amenities:Banking, On Site Management, Property Manager on Site

Brea Park Centre consists of three, three-story, suburban office buildings totaling approximately 171,501 rentable square feet 500 S. Kraemer Blvd. is located on the corner of Kraemer Blvd. and Imperial Hwy. 3 miles east of the 57 freeway. Brea Park Centre is centrally located to serve Orange, Los Angeles, Riverside, and San Bernardino counties with convenient access to major freeways (57 and 91). The exterior of Brea Park Centre - Building B is a white, concrete building that faces the mountains to the north. The double entrance to 500 S. Kraemer allows convenient access from either the north or south parking lot. The travertine lined lobby floor and illuminated directory create an open feel to this suburban office building. The west side of the building looks onto a quaint patio area surrounded by star jasmine ground cover with a rolling hill backdrop. Two 110 ton McQuay units with perimeter heat. After hours HVAC is available upon request at market rates. It has a 24-hour computer controlled building card access security system. Brea Park Centre is conveniently located 2 miles from The Brea Mall including several department stores, boutiques, and restaurants.

This building was awarded an Energy Star label in 2008 for its operating efficiency.

Sale Notes:
Best-of-Class Stabilized Office Investment Opportunity with Upside

* Balanced rollover provides investors the opportunity to maintain cash flow and bring rents to market. Current in-place rents are 16% below market.

* Ownership has spent over $267,000 on recent building upgrades including corridors, ceiling grids, paint, carpet, elevator cabs, restrooms and landscaping.

* High leveraged cash-on-cash in place returns of 9.38% and 13.91% at market rents.

Exceptional Location and Transportation Access

* Brea is located at the confluence of Los Angeles, Orange County, and the Inland Empire which provides convenient access to all counties. Brea also offers a diverse labor pool and expansive executive housing options.

* Strategically positioned at the high visibility intersection of Imperial Highway and Kraemer, the entrance to the East Brea office submarket.

Amenity-Rich Business Location with Walkable Retail

* Benefits from an amenity rich environment with numerous dining and retail amenities within walking distance along Imperial Highway at Brea Union Plaza and Imperial Center, including Trader Joes, Mendocino Farms, Walmart, and numerous eateries, supermarkets, and banking services.

Anthony DeLorenzo
(949) 725-8425

Doug Mack
(949) 725-8571

Michael Spiezia
(949) 725-8471

Gary Stache
(949) 725-8532

Matt Pourcho
(858) 546-4622

Mark Shaffer
(213) 613-3758

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