Investment firm Anda Realty Capital has acquired a suburban office building in Diamond Bar, a property that’s part of a massive business park.
Pasadena-based Anda Realty paid $22.3 million for the property in an off-market deal, property records show. The 86,000-square-foot building is part of a larger 255-acre business park at 1370 Valley Vista Drive.
The seller was a joint venture of Westside-based Tryperion Partners and the Muller Company of Irvine. The joint venture specializes in value-add investments. Tryperion and Muller paid $14.2 million for the property in 2013, records show.
The property sits off the north portion of California State Route 57, which stretches south to the city of Orange. The office building was built in the late 1980s.
The building is roughly 86 percent leased, according to Cushman & Wakefield’s Sean Kern, who handled leasing for the joint venture, and brought in Anda as a buyer in the latest deal.