Glendale lies in the Verdugo Mountains, and is a suburb in the Los Angeles metropolitan area. It is located about 10 miles (16 km) north of downtown Los Angeles. Census the population was 196,543, up from 191,719 at the 2010 census, making it the fourth-largest city in Los Angeles County and the 24th-largest city in California. Glendale is a city in the San Fernando Valley and Verdugo Mountains regions of Los Angeles County, California, United States. “Our buyer was looking for a NNN investment due to the minimal management these assets require, and the location, on Brand Boulevard in the heart of downtown Glendale, could not be more ideal for an investor,” Berzack said in a statement.Ĭostar data shows that the Woolworth building's $18.1 million sale price tops the $16.5 million deal for Golden Farms Market Plaza at 6501 San Fernando Road, which sold in January, and the $15.1 million sale of an auto dealership at 400 S. The retail tenants lease their storefronts on a net lease basis, and Regus is on a long-term modified gross basis, according to CoStar. Tenants include coworking firm Regus, Unify Financial Credit Union, Halal Guys and AT&T. The building has ground floor retail and offices on the second floor. It is located just a few blocks from the Glendale Galleria and Americana at Brand.

The buyer, a private investor, was represented by Lee & Associates’ Warren Berzack and Slavic Zlatkin.

Newmontis’ Trevor Nelson represented the seller, Bow Truss Capital. It is the most expensive retail asset to trade in Glendale so far this year, according to data from CoStar Group Inc. The property was built in the 1940s as a Woolworth department store. A historic mixed-use development in Glendale has sold for $18.1 million, according to Newmontis Real Estate Investment Management.

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