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8/20/24
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Ednovate has leased a 42.1k sf property at 533 Glendale Blvd, adjacent to the 101 Fwy and just west of the 110 Fwy near downtown Los Angeles. Ednovate is a network of free public college preparatory high schools in Southern California.
The property will be converted into a state-of-the-art charter school, reflecting a growing trend in adaptive reuse as the office market continues to face challenges. Centrally located in LA’s Echo Park neighborhood, the two-story building is directly off Highway 101 and two blocks from Echo Park Lake, with a walk score of 78.
John Anthony, SIOR, Christopher Steck, CCIM, and Christopher Giordano with Kidder Mathews represented the owner, Salvo Holdings Inc, in the transaction. Terms of the deal were not disclosed.
This is one of the few success stories for vacant office buildings in these difficult times for the sector,” said Anthony. “We were able to creatively reposition the property as a potential school and locate a tenant who would not only occupy the entire building but also transform it into a high-tech education campus.”
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