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4/11/17
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Lincoln Property Company and Long Wharf Capital have acquired 520 N. Central Avenue, an eight-story, 96.1k sf office building in the heart of Glendale’s downtown area. The new owners plan to renovate and reposition the property over the next several months.
Originally constructed in 1985, the office tower is currently home to such tenants as North American Title, Logic Mate International and H&R Block. The property features high ceilings, strong window lines, and plenty of on-site parking.
The renovation is being led by LPC West -- Lincoln Property Company’s West Coast arm. Planned renovations include modernizing the outdoor amenity space, upgrading the lobby and common areas, and material upgrades to four rare full floor vacancies.
Glendale’s ongoing revitalization, including the addition of new retail, dining, and housing developments in recent years, has led to increased demand for high-quality office space. The 520 N. Central Avenue tower is walking distance from Americana at Brand, a mixed-use property which includes 475k sf of luxury retail space. It is also just two blocks from the 134 Fwy, providing easy access to neighboring areas, including Burbank, Pasadena, Downtown Los Angeles, and the communities along the Arroyo Seco.
Other details about this transaction were not immediately disclosed.
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