October 8, 2019 — A mixed-use retail and office property at 201 N. Brand Blvd. in Glendale, CA’s preeminent retail corridor has traded for $18,095,450, according to Warren Berzack and Slavic Zlatkin, principals of Lee & Associates-LA North/Ventura, who represented the buyer in the transaction.
The seller, Bow Truss Capital, LLC, was represented by Trevor Carl Nelson, managing director at Newmontis Real Estate Investment Management.
The 43,437-square-foot property is comprised of storefront retail on the ground floor and offices on the second floor. The property was fully leased at the time of sale to tenants including AT&T (NYSE: T), Unify Credit Union, 85º (TWSE:2723) and Regus (LON:IWG).
“Our buyer was looking for a NNN investment due to the minimal management these assets require,” said Berzack, “and the location, on Brand Boulevard in the heart of downtown Glendale, could not be more ideal for an investor.”
The buyer is a private investor operating under the entity of BrandWilson, LLC.
Formerly the historic Woolworth Building, the recently renovated property is located on a signalized corner, blocks from the Glendale Galleria and Americana at Brand in a highly walkable, heavily trafficked corridor.
“The Woolworth is a great asset,” Nelson added. “The buyer was chosen through a very competitive bidding process, and working with Warren and Slavic was a pleasure. They helped their buyer secure a phenomenal building, and my clients and my team and I at Newmontis would be happy to work together with them again.”