CBRE arranged the sale of a 77,988-square-foot office property at 601-607 Glenoaks Blvd. in Burbank. The property was acquired by All for Health, Health for All, Inc. for $15.75 million.
The CBRE team of Kyle Barratt, Mark Perry, Edward Matevosian and Michell Tutor, in collaboration with Lee & Associates, Scott Romick and team represented the private seller, 601 Glenoaks, LLC. LA Premier Group represented the buyer.
The office project comprises a four-story structure totaling 68,531 square feet and a single-story building measuring 9,457 square feet. The property also includes a multi-level, semi-subterranean parking structure with 250 spaces.
“The property generated strong interest from multiple owner-users,” said Barratt. “Opportunities to acquire office assets in fundamentally strong markets like Burbank are increasingly rare. User demand continues to be a driving force behind sales activity throughout the Tri-Cities and greater San Fernando Valley, and this transaction reflects that momentum.”
At the time of sale, the property was 62% leased.
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