LOS ANGELES-Locally based CB Richard Ellis Investors LLC, an investment arm of the LA-based real estate conglomerate, has acquired 505 N. Brand Ave., a 311,787-sf, 16-story office building in the heart of suburban Glendale’s booming business district.

Though no one involved directly in the transaction would disclose details, GlobeSt.com has learned that the building sold for about $55 million. It is owned by LA-based Shuwa Management Corp. Shuwa’s parent, which is based in Tokyo, has sold several pieces of its once-vast Southland portfolio over the past several months.

With class A vacancy rates in the Glendale-Burbank-Pasadena submarket below 6%, the 14-year-old building’s flexible floor plates makes it ideal for large users in search of contiguous space, says broker Doug Marlow of the Glendale office of CB Richard Ellis, the exclusive leasing agent. He’s teamed with Nicole Wilson of the Glendale CB Richard Ellis office.

Marlow says interior upgrades are in progress, adding that the building’s location close to freeways, high-end retailers, banks and entertainment facilities is an added bonus for prospective tenants.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 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.

Dig Deeper



Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.