December 3, 2015
The Lakes at West Covina, an office complex totaling 176,843 square feet, was recently acquired by a joint venture comprised of Stillwater Investment Group, Greenlaw Partners, and CrossHarbor Capital Partners for a $34.9 million price tag.
The property is 73.5-percent leased and includes Wells Fargo, the State of California and the U.S. government as tenants. The property is the first acquisition for this partnership and they will continue to locate value-add and high-quality offices in Southern California.
A Madison Partners team that included Bob Safai, Matt Case, and Brad Schlaak brokered the deal and the buyer represented itself. The new owners have hired Cushman & Wakefield to manage marketing and leasing for the property.