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9/05/25
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A 78k sf office property in Burbank was acquired by All for Health, Health for All Inc for $15.75 mil, or $202/sf. The building is located at 601-607 Glenoaks Blvd, northeast of I-5 just a couple of blocks south of Verdugo Ave.
The office project comprises two buildings: a four-story structure totaling 68.5k sf and a single-story building measuring 9.5k sf. The property also includes a multi-level, semi-subterranean parking structure with 250 spaces.
At the time of sale, the property was 62% leased, with a weighted average lease term of 3.87 years. Considered a value-add opportunity, the asset offers the buyer the ability to occupy the vacant portion of the property for its own operations, while benefiting from existing tenancy within a prime Burbank location.
CBRE’s 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, in the transaction. LA Premier Group repped the buyer.
“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.”
According to CBRE Research, despite the continued high vacancy rates, sales of office assets in Greater Los Angeles increased by 37% in volume and 38% in deal count quarter-over-quarter.
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