Northstar Commercial Partners Announces Sale Of Office Building In Riverside, California For $2.4 Million

News provided by

Northstar Commercial Partners

20 Dec, 2019, 11:00 ET

DENVER, Dec. 20, 2019 /PRNewswire/ -- Northstar Commercial Partners announced the sale of its property located at 1855 Chicago Avenue in Riverside, California for $2.4 Million. The 16,030 SF office building was purchased in 2015 as one of 24 total assets in a portfolio acquisition totaling $224.3 Million. 

"I am very pleased with the sale of this Riverside, California office building," shared Brian Watson, Founder and CEO of Northstar. "Taking on a sizeable 24 asset portfolio covering 13 States was a serious undertaking, and I'm especially proud of my team for the way they have been able to execute on each asset."

"The original plan for the building was to lease and sell it alongside the neighboring complex also owned by Northstar," stated Cary Wicker, Director of Asset Management at Northstar Commercial Partners. "However, we found a user that was eager to bring their financial services company to the area, so everything lined up well."

Watson concluded, "This portfolio was a value-add investment strategy, and I am pleased we have been able to lease-up and/or sell the assets at the rate we have, this property included."

Northstar Commercial Partners specializes in buying vacant, distressed and value-add assets throughout the United States, in order to help stabilize properties, and create jobs and opportunities in local communities. Watson founded the company in 2000.

To learn more about Northstar Commercial Partners, please visit www.NorthstarCP.com. 

Media Contact: Taylor Watson, [email protected]

SOURCE Northstar Commercial Partners

Related Links

http://www.northstarcp.com

PRN Top Stories Newsletters

Sign up to get PRN’s top stories and curated news delivered to your inbox weekly!

Thank you for subscribing!

By signing up you agree to receive content from us.
Our newsletters contain tracking pixels to help us deliver unique content based on each subscriber's engagement and interests. For more information on how we will use your data to ensure we send you relevant content please visit our PRN Consumer Newsletter Privacy Notice. You can withdraw your consent at any time in the footer of every email you'll receive. Mit Ihrer Anmeldung erklären Sie sich damit einverstanden, Inhalte von uns zu erhalten.
Unsere Newsletter enthalten Zählpixel, die die Lieferung einzigartiger Inhalte in Bezug auf das Abonnement und die Interessen der einzelnen Abonnenten ermöglichen. Weitere Informationen über die Verwendung Ihrer Daten im Hinblick auf die Zusendung von relevanten Inhalten, finden Sie in unserer PRN Consumer Newsletter Privacy Notice. Ihre Zustimmung können Sie jederzeit in der Fußzeile jeder erhaltenen E-Mail widerrufen. En vous inscrivant à la newsletter, vous consentez à la réception de contenus de notre part.
Notre newsletter contient des pixels espions nous permettant la fourniture à chaque abonné, d’un contenu unique en lien avec ses souscriptions et intérêts. Pour de plus amples informations sur l’utilisation faite de vos données en vue de l’envoi des contenus concernés, nous vous invitons à consulter la politique de confidentialité disponible à partir du lien suivant PRN Consumer Newsletter Privacy Notice. Vous pouvez à tout moment revenir sur votre consentement par le biais des informations situées au bas de chaque e-mail reçu. Регистрирайки се, Вие се съгласявате да получавате информационно съдържание от нас. Нашите бюлетини съдържат проследяващи пиксели, които ни помагат да предоставяме уникално съдържание въз основа на ангажираността и интересите на всеки абонат. За повече информация относно начина, по който ще използваме Вашите данни, за да гарантираме, че Ви изпращаме подходящо съдържание, моля, направете справка с нашето Уведомление за поверителност на потребителския бюлетин на PRN. Можете да оттеглите съгласието си по всяко време в долния колонтитул на всеки от имейлите, които ще получите.