Purchased for $4,010,000 ($155/SF) as a Value-Add Investment with Long Term
Stable Cash Flow Potential
Hollenbeck Center is a garden style office building located at 2149-2155 E Garvey Ave. The property has exceptional visibility from the westbound San Bernardino (I-10) freeway and is centrally located between Los Angles County, San Bernardino County, and Orange County. The building’s functional and efficient interior office suites ranging from 460 to 3,000 square feet, allow for maximum flexibility as tenants expand and contract within the property.
Ken Leon, President of Quest Realty, stated: “We are excited to have acquired this excellent value-add opportunity at a low price per square foot. Our strategy is to refresh the real estate, re-lease the spaces at market rents and then cash flow and/or sell the asset at full occupancy at a wide margin above our purchase price.”