Mark Takeichi of the Charles Dunn Co. tells GlobeSt.com that the property is directly across the street from a large block of property owned by the city of Glendale, which acquired it through condemnation to expand Pacific Park and Edison Elementary School. Takeichi and David Parker of the Dunn Co. represented the seller, a partnership called Riverdale 555."The city's projects will enhance the overall neighborhood, which will benefit the property owner," Takeichi said.
The poured-in-place concrete building is 70% occupied, according to Takeichi, who said the buyer acquired it as a long-term investment. The property was built in 1928 and was renovated completely after the seller acquired it in 1990, when it was converted into a multi-tenant industrial building.
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
