Focus Universal Inc. Announces Completed Acquisition of 901 Corporate Center Drive
Summary
Focus Universal closed the acquisition of a five-level Class A office building, a four-level parking structure, and four land parcels at 901 Corporate Center Drive in Monterey Park, CA, for a net purchase price of $17.7 million. The property totals roughly 100,743 sq. ft. of rentable office space, sits on 10.73 acres, is 99.2% occupied by about 16 tenants, and will house approximately 2,000 sq. ft. of company office space. The company financed the purchase with a term loan from East West Bank, retained Lee and Associates to manage the property, and will keep prior managers on for a 30-day transition. Focus Universal says the asset will generate cash flow, reduce corporate rent expense, and bolster equity value while it continues to operate as a provider of patented hardware and software technologies for IoT, 5G, and AI-driven solutions.
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