CIRE Partners is pleased to exclusively present for sale the Atlas Corporate Center, an office building campus centrally located in Monterey Park within the San Gabriel Valley and in close proximity to Los Angeles, California. The subject property’s address is 588 Atlas Avenue, Monterey Park, California, which was ranked #2 by Money magazine as the “10 Best Places in America to Raise a Family” and #3 as “America’s Best Places to Live” in 2017. The site consists of two (2), two-story office buildings measuring approximately 86,081 SF total, and approximately 4.99 acres of land on five (5) parcels. The former owner of the property took the initial steps toward upgrading the property during their ownership, in order to provide prospective buyers with a smooth change of ownership process.
In terms of location, Monterey Park and the San Gabriel Valley as a whole are some of the most demanded and desirable markets in Southern California when considering the single digit vacancy rate, high barriers to entry, pride of ownership/legacy leaving assets, property values, and ease of transportation. As for residents, many enjoy the plentiful restaurants, historic monuments, recreational activities, cultural diversity, prospering economy, educational facilities, and the overall quality of life that Monterey Park provides. The city’s motto, “Pride in the past, Faith in the future,” is fully embraced as well.
As for development activity in the area, the newly developed Monterey Park Market Place shopping center measures approximately 500,000 square feet on approximately 50 acres of land and took over a decade to come to fruition. Anchored by Costco and Home Depot, and including national credit tenants such as In-N-Out Burgers, Chick-fil-A, Starbucks, Buffalo Wild Wings, and Chase Bank, Monterey Park Market Place is a tremendous driver of both residential and economic traffic. These factors provide a significant benefit for the subject property, Atlas Corporate Center, which equates to a highly demanded and seasoned property.