Newmark 1 announces it has completed the $41 million sale of Congressional Place, a two-story, 73,769-square-foot office building planned for multifamily redevelopment and located in Long Beach, California. Newmark Senior Managing Director Chris Benton, Managing Director Anthony Muhlstein, Co- Head of Capital Markets Kevin Shannon, Vice Chairman Bill Bauman and.
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450 America St. in Simi Valley.
Despite a waning appetite for office space during the pandemic, an office building in Simi Valley has sold for $30 million, according to Newmark, a real estate brokerage involved in the deal.
The 206,917-square-foot structure, which is 100 percent leased to Bank of America, is located at 450 America St.
The two-story edifice, situated on some 12.5 acres of business campus, features abundant parking, four lobbies and on-site café. The building also incurred some post COVID-19 improvements such as expansive ceilings and operable doors to improve airflow. Geographical amenities include access to the 118 freeway and neighboring retail centers such as Simi Valley Town Center and Mountain Gate Plaza.