LOS ANGELES--(BUSINESS WIRE)--Tryperion Partners and The Muller Company have formed a joint venture to acquire 1370 Valley Vista Drive, an 85,536-square-foot office building located in Diamond Bar, California. The lender-owned asset is situated within the desirable Gateway Corporate Center business park, near the confluence of the 57 and 60 freeways connecting the San Gabriel Valley and Orange County.
“The acquisition presents a compelling value-add opportunity in Southern California,” said Tryperion partner Eliot Bencuya. “Despite ideal freeway access and visibility, abundant amenities, and a prominent location within the near fully-leased Gateway Corporate Center, the property’s troubled ownership history has caused performance to suffer. We look forward to breathing new life into the property.”
Tryperion’s joint venture partner, The Muller Company, is a vertically-integrated investment and management firm specializing in Southern California office projects. Muller will draw from its past experience owning and managing over 20 million square feet of office space, including two similar buildings in the Gateway Corporate Center, to implement the leasing strategy. “We are eager to partner with Muller,” added Tryperion partner Joseph Kessel. “Their Southern California expertise, coupled with their established infrastructure within the Diamond Bar submarket, makes them ideally suited to maximize the value of this asset.”
“We are excited to venture with the Tryperion team,” added Muller founding principal Stephen Muller. “We see immense potential to enhance the value of 1370 Valley Vista by capitalizing on the demand drivers in the San Gabriel Valley and the overall momentum of Southern California. It is an ideal opportunity to use our collective capital markets and leasing experience to stabilize the property.”
About Tryperion Partners
Tryperion Partners is a Los Angeles-based private real estate investment firm focused on value-add office, retail, hospitality, and multifamily investments in secondary western U.S. markets. Tryperion’s founders have acquired and managed assets valued in excess of $4.5 billion across all major commercial property types. Tryperion acquired the property through its Tryperion RE Fund I, L.P., a $50 million fully discretionary commingled fund closed in May 2013. For more information, visit www.tryperion.com.
About The Muller Company
The Muller Company has over 30 years of experience in developing, acquiring and managing a diverse portfolio of over 20 million square feet of office, industrial and retail real estate throughout the western United States. The Muller Company excels at mining the long-term value from every asset that it manages by adding value through leasing, capital improvements, refinancing, operational audits and repositioning. For more information, visit www.themullercompany.com.