Children’s Hospital Los Angeles is expanding its office spread in Glendale.
The hospital signed a 26,000-square-foot expansion lease through 2026 at 800 N. Brand Avenue, owned by Piedmont Office Realty Trust, The Real Deal has learned.
It’s the hospital’s second expansion in two years and brings its total footprint at the Class A tower to around 99,300 square feet. The entire building is about 527,300 square feet.
The move is welcome news for Piedmont. The Atlanta-based REIT is losing its largest tenant at the tower, Nestle USA, this year, according to the San Fernando Valley Business Journal. The US wing of the Swiss giant Nestle S.A. was headquartered there since the 1980s and occupied 379,000 square feet when it started its move to Virginia in 2017.
Last year the firm sold 14 properties across the country to two separate buyers for $426 million. That included a Tamarac, Florida office building that to sold to an affiliate of Bridge Investment Group.