Rediger Investment Corp. Acquires Medical Office In Burbank For $16.05 Million

Rediger Investment Corp. purchased a medical office property located at 500 East Olive Avenue in Burbank for $16.05 million. The property spans 48,000 square feet and is currently 95% leased, benefiting from a low vacancy rate of 5.9% in the Burbank market. Its proximity to major hospitals and amenities in Downtown Burbank enhances its appeal.

Summary of transaction details:

• Property Type: Medical Office
• Transaction Amount: $16,050,000
• Address: 500 East Olive Avenue
• Market: Burbank
• Square Footage: 48,000
• Price Per Square Foot: $334
• Buyer: Rediger Investment Corp.
• Brokers: Anthony DeLorenzo, Bryan Johnson, Dylan Rutigliano, Gerard Poutier, Mark Shaffer & Nick Williams - CBRE

This transaction marks the first sale of Rediger Investment Corp. in 25 years. The brokers involved represent a collective expertise in the market, contributing to the successful sale of the property.