Updated Oct 12, 2026
Jon Farney Of State Farm Renews 46,312 Square Foot Lease At 655 N. Central Ave. In Glendale
655 North Central Avenue
Building Size
46,312 SF
Asset Type
Office
Closing
Oct 5, 2026
About this deal
AI
The property asset involved in this transaction is located at 655 North Central Avenue, Glendale, CA. It is classified as an office space with a total area of 46,312 square feet. The new owner of the building is Glendale Tower LLC, which acquired the 542,000-square-foot property for approximately $70 million during the quarter.
Summary of transaction details:
- Property Type: Office
- Transaction Amount: $70 million
- Address: 655 North Central Avenue
- Market: Glendale, CA
- Landlord: Donald Lam - Sunny Hills Management Co., Inc.
- Tenant: Jon Farney - State Farm
- Lease Area: 46,312 square feet
State Farm renewed its lease at this location, which is noteworthy as it ranks among Los Angeles’ 10 largest office transactions in Q3 2026. This renewal enhances the financial stability for Glendale Tower LLC, the current owner of the property.
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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