CBRE facilitated the sale of 960 Overland Court, a 79,036-square-foot R&D/flex building in San Dimas to San Dimas CA LLC. The two-story property is fully occupied by Collins Aerospace, an aerospace and defense product supplier and subsidiary of Raytheon Technologies. Mark Shaffer, Anthony DeLorenzo, Gerard Poutier, Bryan Johnson and Nick Williams with CBRE’s Investment Properties—California/Arizona/Nevada represented the undisclosed seller along with Todd Tydlaska Mike Longo Melissa May Moock Sean Sullivan from CBRE’s Institutional Capital Partners.
The transaction offers simplicity of ownership as well as secure cash flow for new ownership due to its mission critical location for the tenant who had been in its previous location for 40 years. According to Shaffer “We saw competitive bidding from discerning capital given the redundancy of the asset’s secure/stable cash flow and future upside.” Terms were not disclosed at this time
