La Palma’s Centerpointe office park sells for $106 million – Orange County Register

Two real estate investment firms have jointly bought a 10-building business park in La Palma for $106 million.

Irvine-based Greenlaw Partners and Westbrook Partners, with offices in Los Angeles, bought Centerpointe La Palma, which includes three mid-rise office buildings, six single-story R&D buildings, and one single-story retail strip center.

Newport Beach brokerage Newmark Knight Frank, or NKF, represented the seller, an East Coast-based pension fund adviser. Greenlaw Partners and Westbrook Partners were self-represented.

The campus notably is across the street from the JCPenney distribution center that sold in May for $153 million to an Illinois-based investment firm.

Centerpointe, with tenants that include Tesoro, Honeywell,…

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