Lee & Associates Arranges Los Angeles Mixed-Use Sale
- Oct 11, 2019
Lee & Associates-LA North/Ventura has brokered the $18.1 million sale of a 43,437-square-foot mixed-use asset in Glendale, Calif. National Director Warren Berzack and Principal Slavic Zlatkin represented the buyer, while Managing Director Trevor Carl Nelson of Newmontis Real Estate Investment Management worked on behalf of the seller. Both parties were local investors.
The former historic Woolworth Building is located at 201 N. Brand Blvd. on a signalized corner, blocks from the Glendale Galleria and Americana at Brand in a walkable and heavily trafficked corridor. Recently renovated, the property consists of storefront retail on the ground floor and offices on the second floor. At the time of sale, the asset was fully leased to tenants such as AT&T, Unify Credit Union, 85º and Regus.
Recently, another Lee & Associates team arranged the sale of a 14,000-square-foot office and retail facility in Burbank, Calif. The asset traded for $5.5 million or $389 per square foot.
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