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The Real Deal Los Angeles

Glendale Unified looks to swap HQ with nearby property

The building on East Colorado Street has more parking
June 26, 2017 02:00PM

425 E. Colorado St (Google Maps)

Glendale Unified wants to swap its headquarters for a building half a mile south at 425 E. Colorado Street.

Sam Manoukian of Re/Max Realtor, who represents Glendale Unified, said the 113,000-square-foot  property, which dates back to 1984, has 380 parking spaces, about 224 more than the 156 Glendale Unified has now, and could qualify for a swap.

He suggested school officials occupy a portion of the building and rent out the rest of the space to other tenants to generate revenue, according to the L.A. Times.

School board member Greg Krikorian said officials should tour the building before making a final decision.

Glendale Unified said that upgrading its current administration building at 223 N. Jackson Street would cost between $15 to $20 million.

The prospective deal comes two years after GU first entered negotiations for a swap with Burbank developer Chandler Pratt & Partners. Those negotiations fell through when officials announced they could not agree to the terms presented by Chandler Pratt & Partners. [LAT]Subrina Hudson