JULY 18, 2019|ANTHONY EDELSTEINEMAILPRINT Investment Firm Sells Off Office Building in Walnut Creek, California, for $8.3 Million 7-18-2019

Firefighting supply company LN Curtis & Sons has purchased an office building in Walnut Creek, California’s Centre Pointe Business Park.

The building’s previous owner, investment firm Angelo, Gordon & Co., sold the property at 165 Lennon Lane for $8.3 million, or about $203 per square foot. It’s one of six similarly sized buildings at the office park that Angelo, Gordon & Co. purchased last year for a total of $21 million, or $102 per square foot.

The 37-year-old, 40,857-square-foot building at 165 Lennon Lane sits on a 12.36-acre lot and was vacant at the time of sale. The new owners have since moved into the second floor, taking up 20,428 square feet of space.

Eugene McGrane and Drew Hyjer of Cushman & Wakefield represented the seller, while Phil Damaschino of CBRE represented the buyer in the deal.