The Kidder Mathews team of Bill Boyd, Linda Lee and Scott Unger helped arrange the $27.5 million sale of the Glendale Financial Square Building in Glendale, CA. The seller was a partnership between three local real estate investors and the buyer was Hacienda Associates, LP.
The 126,000-square-foot office building is located on West Broadway, and is situated directly across the street from the Glendale Galleria regional mall. Taking advantage of a stable tenant base while securing additional tenancy, the buyer plans to invest in upgrading the building’s common areas and entry plaza. One interesting note: the property was Glendale’s first office building that provided direct elevator access from underground parking to the office floors.
“The purchase of the Glendale Financial Square is a good example that well-located core assets in a traditionally stable office market, still attract investment interest despite market distractions,” said Unger in a news release.
Mark comes to ConnectCRE with an extensive background as a business and news reporter in San Francisco radio, as well as 35 years as a traffic reporter on several stations including KGO, KNBR, KCBS and KFRC. As a business reporter, Mark covered the tech world in Silicon Valley where he became familiar with real estate transactions in the hot Bay Area marketplace. He attended San Jose State University with a BA in Radio and TV Broadcasting and currently resides in the Lake Tahoe area where he gets to frequently enjoy all of his favorite activities: Golfing, Fishing, Hiking and Skiing.