Valencia, CA – January 11, 2022 – Executive Vice President Randy Cude and Vice President Matt Sreden of Spectrum Commercial Real Estate, Inc., is pleased to announce the recent sale of an office building located in the City of Valencia, California.
Spectrum CRE™ represented the Buyer and Seller in the transaction.
This ±7,383 square foot freestanding office building is located along the prestigious Smyth Drive at 28015 Smyth Drive, Valencia, California, in Highridge Business Park. The Property features nine private executive suites, large open bay, conference room, reception area, kitchen, and storage area.
The property has a high image corporate identity and a campus environment, located near restaurants, daycare, and minutes away from the Valencia Town Center.
The office market has seen a rise in vacancy rates and lower asking rents in the third quarter of 2021 compared to 2020. However, the office market has shown signs of promise and macroeconomic indicators remain optimistic.
The Buyer, an Owner/User, plans on occupying a percentage of the building and converting the remainder of the building into high-end executive office suites. Randy Cude and Matt Sreden were able to negotiate a Leaseback for the Sellers to occupy a portion of the building.
This office building sold for $2,675,000.00.
Call brokers for more information.
About Spectrum Commercial Real Estate, Inc.
Spectrum CRE™ was founded in 2018, headquartered in Valencia, with offices in Woodland Hills, Encino and Century City, California. We are a full service commercial real estate firm offering clients personalized service, local knowledge, and a pioneering approach to brokerage. The firm’s exceptional brokerage services include tenant and landlord rep, leasing, sales (owner-user and investments), 1031 exchange buyer representation, national single-tenant investment sales and acquisitions, net lease investments, build-to-suit developments, debt/equity and property management. For more information, visit www.Spectrumcre.com