Former Blue Shield of CA Offices Trade for Residential Conversion
NAI Capital Commercial executive managing director Ryan Campbell, SIOR, represented The Olson Company in its $24,850,000 acquisition of a 7.9-acre office campus at 601 Potrero Grande Dr. and 2100 Saturn St. in Monterey Park. The campus includes two office buildings totaling 120,191 square feet. The buyer plans to redevelop the property into a new residential community.
Originally built in 1980, the campus was previously owned and occupied by Blue Shield of California. Andrew Harper, Jeff Bramson, and Will Poulsen of JLL represented the seller.
“This acquisition reflects the continued shift toward repositioning well-located office properties into much-needed housing throughout the San Gabriel Valley,” said Campbell. “Large infill redevelopment opportunities like this are increasingly rare. The size, location, and long-term potential of this campus make it exceptionally well-suited to deliver new housing while transforming an underutilized office property into a vibrant residential community.”
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout