MONTEREY PARK, CALIF. — The Olson Co. has acquired a 7.9-acre office campus, located in Monterey Park, for $24.8 million. The buyer plans to redevelop the two-building, 120,191-square-foot property into a residential community.
Originally built in 1980, the campus was previously owned and occupied by Blue Shield of California. The property includes a three-story, 91,363-square-foot office building at 601 Potrero Grande Drive and a companion office building at 2100 Saturn Street. The campus provides 508 surface parking spaces and is zoned Saturn Park under Monterey Park’s McClaslin Business Park overlay.
Ryan Campbell of NAI Capital Commercial represented the buyer, while Andrew Harper, Jeff Bramson and Will Poulsen of JLL represented the seller in the deal.