A 19-story office and retail property in Downtown Glendale with a distinctive public art installation is available for purchase.
The 416,162-square-foot building is located on a 2.84-acre lot at 101 North Brand Blvd.
According to marketing materials from CBRE, the firm handling the listing, it is home to just under 50,000 square feet of retail space.
Boston-based Beacon Capital Partners purchased the property in 2016 for $128.25 million, according to property records. Nearly 50 percent of year-one income is generated by on-site retail, according to CBRE. The property is 51 percent leased out by a total of 26 tenants, leaving plenty of room for more to fill out the remaining spaces. Current tenants include BJ’s Restaurant Brewhouse, Olive Garden, Sushi Sasabune, Daniel & Co Fine Jewelers and Orangetheory Fitness, among others.
Originally built in 1990 as an office building, the towering glass and granite structure underwent renovations in 2018. Beacon Capital Partners has invested $11.8 million into the building, upgrading common areas, suites, restrooms and corridors over the last seven years, according to CBRE.
In 2018, the firm ESI Design updated the plaza and added a large public art installation, the Chromaphone, for guests to interact with, according to the ESI website. Using controls at the ground level, guests can generate sound and color patterns on a tall digital clocktower on the side of the building.
The building’s exterior features a landscaped plaza with a fountain and outdoor seating, and the higher-level offices offer unobstructed views of the surrounding city and mountains. The main entrance leads to a large, circular lobby with a modern feel. The property comes with 1,371 parking spaces.
The building is adjacent to the Americana at Brand and Glendale Galleria shopping center, and is within walking distance of more than 300 stores and restaurants according to CBRE. Its location in the heart of Glendale places it a short drive away from the Los Angeles Zoo and Griffith Park.
Located between Burbank and Pasadena, the property offers convenient access to State Route 134 and Interstate 5. Glendale Metrolink Station is a short drive from the property, and a bus stop is conveniently located at the corner of W Broadway and Brand Boulevard.
According to CBRE, The City of Glendale has made efforts to bill itself as a tech hub by investing in fiber optics networks and investing in a start-up tech accelerator. The city contains 1,029 high-tech firms employing 41,168 people.
