Blackstone lists two Glendale office properties as a package deal

Neighboring buildings total 414K sf and are 85 percent leased

Los Angeles /
Aug.August 23, 2017 08:00 AM

Blackstone Group is continuing its selling spree. This time, the company is offering a two-for-one deal, seeking a single buyer for two of its Glendale office properties.

The neighboring buildings, at 801 N. Brand Boulevard and 700 N. Central Avenue, are expected to trade for $124 million, or $300 per square foot, unidentified sources told REAlert.

The buildings total 414,000 square feet and are 85 percent leased, REAlert reported. 

The 13-story building at 801 N. Brand is 283,000 square feet. Its tenants include New York Life, Americas United Bank and Search Agency.

The second offering at 700 N. Central is an eight-story, 131,000-square-foot building with tenants that include Fuse Media, Gamblit Gaming and California Public Employment Relations Board, according to REAlert.

The package was part of a portfolio owned by Maguire Properties that fell into receivers’ hands during the economic downturn. Blackstone’s Equity Office arm scooped up the buildings in 2012, paying special servicer LNR $73.2 million, or $177 per square foot. [REAlert] — Subrina Hudson


Related Articles

arrow_forward_ios
Anaheim Ducks' Henry and Susan Samueli; 2695 E. Katella Avenue (OCVibe, Anaheim Ducks)
Anaheim Ducks owners envision $4B entertainment village
Anaheim Ducks owners envision $4B entertainment village
 30801 South Coast Highway (Montage Hotels, Getty)
Chinese insurer to sell Montage Laguna Beach for $700M
Chinese insurer to sell Montage Laguna Beach for $700M
Charles Company's Mark and Arman Gabay and a rendering of 550 E. Colorado Boulevard in Pasadena (WATG)
195-room hotel planned for Pasadena’s Playhouse District
195-room hotel planned for Pasadena’s Playhouse District
Bardas Investment Group's David Simon with 6311 Romaine Street
Hollywood’s Television Center readies for $600M makeover
Hollywood’s Television Center readies for $600M makeover
Century Plaza project at 2025 Avenue of the Stars and Woodbridge Capital Partners' Michael. Rosenfeld (CoStar)
Stake in the Century Plaza Hotel heads to auction block
Stake in the Century Plaza Hotel heads to auction block
Valley Central at 44400 Valley Central Way in Lancaster (Google Maps, Getty)
Lancaster shopping center trades for $45M
Lancaster shopping center trades for $45M
UCLA chancellor Gene Block; former Marymount California University campus (UCLA, MCU)
UCLA pays $80M for former Marymount California campus
UCLA pays $80M for former Marymount California campus
IDS Real Estate Group’s co-CEOs David Mgrublian and Murad Siam with Irwindale Speedway at 500 Speedway Drive in Irwindale (Irwindale Event Center, IDS Real Estate, Getty)
Irwindale Speedway site to transform into industrial park
Irwindale Speedway site to transform into industrial park
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...