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August 22, 2017
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Glendale Office Building Trades in $59 Mil Deal

7/07/17

Credit Suisse has purchased a Class A, 189.1k sf creative office building in Glendale for $59 mil, or around $312/sf. The building, located at 207 Goode Ave, just north of the 134 Fwy and west of Brand Blvd, was sold by Lincoln Property Company and Morgan Stanley.

Built in 2009, 207 Goode Avenue is situated on just over a one-acre parcel and is eight floors in height. It is 76% occupied by four tenants including Avery Dennison, Whole Foods and Canon, as well as Equinox Fitness, adding a significant on-site health club amenity for the building’s tenants and the local community. The asset is LEED Gold Certified, features above-standard creative office tenant improvements, and highly functional, column-free floor plates.

Kevin Shannon, Rob Hannan and Michael Moll with NKF Capital Markets represented the seller in the transaction. According to Shannon, the asset is the newest office building in Glendale and is one of only five institutional office buildings developed here over the last decade.

Prominently located at the gateway to Glendale, 207 Goode is highly visible from the Ventura (134) Fwy and also has visibility on Glendale’s major thoroughfares: Brand Blvd, which sees more than 244,000 vehicles per day, and Central Ave.

Supported by an array of lifestyle amenities, central regional location, youthful demographics and urban housing, Glendale has become a preferred location for several major corporate and regional headquarters. This includes corporations such as Avery Dennison, DineEquity/IHOP, Walt Disney Animation Studios, DreamWorks, Public Storage, LegalZoom, Univision and Whole Foods Market.





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