CBRE has successfully sold Garden Grove Plaza, located at 12966 Euclid St. in Garden Grove, for $12.12 million on behalf of a private seller. The investment sales team consisting of Anthony DeLorenzo, Bryan Johnson and Nick Williams from CBRE’s Orange County office negotiated the sale to the City of Garden Grove.
According to DeLorenzo, this building presents an excellent opportunity for the City of Garden Grove to expand its operations in one of the most competitive real estate markets. With a diverse tenant base and recent renovations completed on this five-story glass-and-steel office building situated near City Hall, it is currently 77% occupied with attractive near-term cash flow potential for its new owner while also offering room for growth within its vacant space.
