Los Alamitos business complex sold by Northwestern Mutual

Los Al business complex reportedly sold

Pension fund advisor Alere has purchased Los Alamitos Corporate Center in Los Alamitos, CA from Northwestern Mutual for $128.5 million, according to a report out this week on Connect California website.

The complex is located at 4332-4478 Cerritos Ave., 10541-10681 Calle Lee and 4392-4465 Corporate Center Dr., the property is comprised of 17 buildings on a 36.9-acre lot in the Mid-Counties industrial submarket, according to the report.

The 685,588-square-foot industrial complex is 98% leased, and currently home to 82 tenants with strong historical occupancy. The buildings range from 11,788 to 134,186 square-feet.

The site said to commercial real estate and investment firm CBRE’s Darla Longo, Barbara Perrier, Brett Hartzell, Rebecca Perlmutter Finkel, Eric Cox and Laird Perkins represented the seller.

According to Perrier, “This offering was a unique opportunity to acquire a high-performing asset in the tight Southern California industrial market. This rare asset in an infill market provides the buyer stable cash-flow, due to the strong historical tenancy that Los Alamitos Corporate Center has enjoyed.”

Los Alamitos business complex sold by Northwestern Mutual