The five-story multitenant office building features a two-level below-grade parking garage and, as Glenborough points out, the modified rectangular shape of the building allows for significantly more window offices. The property is one of the few buildings in the area that offers tenants direct lobby and floor access from the subterranean parking levels.
The building appealed to Broadreach for a number of reasons, according to Andrew Batinovich, president and CEO of the REIT. The location draws entertainment tenants, he says, and the parking garage and surface parking provide 391 spaces for anabove-standard ratio of 3.8 spaces per 1,000 sf of office space.
Glenborough bought the property in a deal that was brokered by Steve Algerimissen and John Minervini of Cushman & Wakefield, with Glenborough representing itself. Broadreach had owned the building since December 2004.
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