213-446-7543
425 W Broadway, Glendale, CA for Sale
Office - FOR SALE
1/5
null | Request Cap Rate

425 W Broadway
Glendale, CA 91204
Vineyard


HIGHLIGHTS

  • Click link to download Offering Memorandum: https://bit.ly/425broadwayIN
  • Best-In-Class Institutional Office with Diverse Tenant Mix Anchored by Major Insurance Agency
  • Business Friendly & Amenity-Rich Location with Strong Regional Access

OVERVIEW

Best-In-Class Institutional Office with Diverse Tenant Mix Anchored by Major Insurance Agency * 100% leased to a diverse mix of 17 tenants across healthcare, insurance, government, and financial service tenants with a weighted average lease term of 4.49 years. * Recent renewal by anchor tenant, Acrisure (25.51%) until 2032 cements their long-term commitment to the property with over 26 years of tenancy at the project. * Since 2018, ownership has invested over $3 million in capital and tenant improvements throughout the property including: • Lobby modernization • HVAC upgrades • Lighting upgrades • Restroom & interior improvements • Landscaping upgrades Business Friendly & Amenity-Rich Location with Strong Regional Access * Glendale is among the region’s most business-friendly cities, the third largest city in Los Angeles County. The city has a lower cost of doing business in comparison to Pasadena, Burbank and Los Angeles with lower property taxes, lower transient occupancy taxes, lower utility user taxes, no parking tax and no gross receipts tax. * Regional Access – This asset maintains a strategically prominent position in the office market given its centralized location access to the I-5 (Golden State) Freeway, SR-2 (Glendale) Freeway, SR-134 (Ventura) Freeway and 210 (Foothill) Freeway.

FOR SALE DETAILS

PRICE

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CAP RATE

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% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Broadway Plaza

PROPERTY TYPE

Office

ADD'L SUBTYPES

Loft/Creative Space

TOTAL BUILDING SIZE

-

STORIES

4

BUILDING CLASS

A

YEAR BUILT

1984

SPRINKLERS

-

PARKING SPACES

184

LAND DETAILS

LAND ACRES

1.22 AC

LAND SF

53,143 SF

ZONING

SFMU

APN/PARCEL ID

5637-015-055

ASK ABOUT THIS PROPERTY

Mark ShafferCBRE, Inc.More Info
213-446-7543

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Mark ShafferCBRE, Inc.More Info
213-446-7543

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.