GLENDALE, CA-Two tenants have signed leases for a total of 27,800 sf at the 320,000-sf 505 N. Brand office tower, according to Jones Lang LaSalle. The leases include a 10-year deal by HSGC Bank USA for a 5,000-sf retail branch on the ground floor and a five-year expansion by United Healthcare that will put the company into 22,800 sf for five years.

Managing director John McAniff of Jones Lang LaSalle reports that HSBC Bank expects to move into its space this month. United Healthcare, formerly in 5,400 sf on the eighth floor of the building, will expand onto the 12th floor. McAniff was part of a team including leasing director Tim Miller and associate Chris Dillavou that represented building owner LaSalle Investment Management on the two transactions, which were valued at $2.8 million each.

McAniff comments that demand for ground-floor retail space on Brand Boulevard is growing “despite a 16% vacancy in the market” and that the expansion of United HealthCare “is indicative of the improving market in Glendale.” HSBC Bank was represented by Gary Goodgame of Corporate Realty Associates and United Healthcare was represented by Steve Sapunor of Corporate Realty Associates in conjunction with Karen Johnson of Trammell Crow.

The 16-story office tower at 505 N. Brand Blvd. is adjacent to the Glendale Galleria and the 475,000-sf Americana at Brand retail and residential development that is scheduled to open in 2008. The office tower is 81% occupied.

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