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Pine Tree Branches Out with Glendale Marketplace Buy
Glendale Marketplace, a 154,049-square-foot urban retail center with big-box tenants in the heart of the northern Los Angeles-area community of Glendale, recently sold for $64.1 million. Chicago-based Pine Tree acquired the asset.
Glendale Marketplace is 94.8 percent leased to a variety of some of the most popular fitness, home furnishings restaurant and discount store retailers in the country including Ross Dress for Less, LA Fitness, HomeGoods, Five Below, Buffalo Wild Wings and Old Navy.
Constructed in 1998, the retail center is situated on 2.2 acres at 106-146 S. Brand Blvd. in an urban infill area of Glendale. With a population of more than 595,000, it is the third largest city in Los Angeles County.
JLL marketed the property on behalf of the seller, EB Arrow. The JLL team representing the seller was led by managing directors Gleb Lvovich, Bryan Ley and Geoff Tranchina, and senior director Daniel Tyner.
- ◦Sale/Acquisition
