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| Bank of the West building, 17303 Carmenita Avenue, Cerritos, CA |
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| Charles DeSantis |
LOS ANGELES, CA, May
13, 2014 – Charles Dunn Company, one of the largest full-service regional real
estate firms in the western United States, has completed the $2.7 million sale
of a 3,600-square-foot, single-tenant, NNN-leased property fully occupied by
Bank of the West.
The property is situated on .66 acres and is located at
17303 Carmenita Ave. in Cerritos, Calif.
Charles DeSantis and Kyle Gulock of Charles
Dunn Company represented the seller, New York-based Big Four, LLC. The buyer
was a private investor from Ontario, Calif. who was represented by Richard
Lee of R & L Properties-Cerritos Inc.
“The property fell in the sweet spot of 1031 exchange
investor criteria present in the market regarding price point and unleveraged
return,” said Gulock.
“We focused our marketing efforts both regionally and
locally. We had multiple offers and were able to select the buyer with the
highest price and best terms for our seller.”
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| Kyle Gulock |
This is the second transaction DeSantis and Gulock have
closed with their client, Big Four, LLC involving real estate with a financial
institution as a tenant. The first occurred in February of this year on the
$4.39 million sale of a 4,811-square-foot asset also occupied by Bank of the
West in Huntington Beach.
Additionally, this
is the third bank-occupied property the team has closed in 2014.
For a complete copy of the company’s news release, please
contact:
Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224
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