Insights

LOS ANGELES—The investor buys the Gateway Corporate Center in Diamond Bar, saying the market and surrounding markets, like Pomona and West Covina, are “historically very stable.” Buchanan Street Partners has purchased the Gateway Corporate Center in Diamond Bar from Cornerstone Real Estate Advisers, an affiliate of an institutional buyer. The sales price was not disclosed, however, sources unrelated to the deal say that the investor purchased the property from $44 million. While this is Buchanan’s first Diamond Bar purchase, it knows the surrounding areas well and was attracted to the purchase for the strong location.

Diamond Bar, Calif. and Newport Beach, Calif. (January 25, 2016) – Buchanan Street Partners has purchased Gateway Corporate Center, a two-building, 162,339-square-foot office complex located at 21680 & 21688 Gateway Corporate Center Drive in Diamond Bar, California. The acquisition reflects Buchanan Street’s ongoing investment strategy in the West, where the Newport Beach-based investor is actively buying core-plus and value-add office properties in growing markets.

The Paradise Valley Corporate Center, near Cactus Road and Tatum Boulevard, sold for $37.4 million to a California-based real estate investment firm. Cushman & Wakefield’s Executive Director Chris Toci and Director Chad Littell negotiated the sale to Buchanan Street Partners, and no other outside broker was involved.