Vantis Capital Advisors is pleased to present the opportunity to purchase the fee simple interest The Sam Armstrong Building. The property is 100% leased: Coldwell Banker Residential Brokerage (previously Coldwell Banker Armstrong Properties/Armstrong Realty) occupies 81% of the GLA and the company has operated at the site since 1963. This office has been a top performing location for the brand within the I.E, O.C., L.A., and Desert region, receiving seven awards for 2018 for revenue, profitability, management, and agent retention. Armstrong Property Management and Armstrong Escrow each have a 10- and 20-year operating history, respectively, providing a synergistic tenant mix adding to the long-term stability of the investment. This iconic building is well known within the Riverside community. It has been documented for its architectural design by the City of Riverside, who reports its eligibility for listing as a historic building in the California Register under Criterion Three. The eye-catching design, prominent monument and building signage, and established palm trees make it impossible to miss when driving or walking by. The Sam Armstrong Building is ideally located at the signalized intersection of Brockton Avenue and Nelson Street in the heart of the Magnolia Center. The 5-mile trade area is supported by a population of nearly 305,000 with an average household income of $75,682 and 110,868 daytime employees.
Listing courtesy of Matt Hardke from Vantis Capital Advisors
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