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611 N Brand BLVD, Glendale,...

Updated Oct 29, 2024

Bilt advertisement
PSI Services Leases 23589 Square Feet At 611 N Brand Blvd Glendale From LNR Partners
LEASEDOffice

PSI Services Leases 23589 Square Feet At 611 N Brand Blvd Glendale From LNR Partners

611 N Brand BLVD, Glendale, CA, 91203

Building Size

23,589 SF

Asset Type

Office

Closing

Feb 21, 2017

About this deal

AI

The transaction involves leasing the entire 10th floor of Glendale Center, a 14-story, 399,000 square-foot Class-A office tower located at 611 N Brand Blvd, Glendale, CA, 91203. The property was constructed 45 years ago and recently underwent upgrades to its common areas.

Summary of transaction details:

  • Property Type: Lease
  • Transaction Amount: Not disclosed
  • Tenant: PSI Services
  • Tenant's Representative: Jacob Bobek, CBRE
  • Landlord: LNR Partners
  • Square Feet: 23,589
  • Lease Term: 11 years

Jacob Bobek, an Avison Young principal from the downtown L.A. office, represented the tenant, PSI Services, which offers pre-employment testing, licensure, and certification testing solutions. The relocation from Burbank to Glendale was influenced by the desire for a more central location, accessibility to amenities, and proximity to the 134 freeway.

Players

Jacob Bobek

CBRE

Broker

4 deals

Broker
LP
LNR PartnersLandlord

Glendale Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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