JSGPT LLC Sells Office Buildings At 320 And 330 Arden Avenue In Glendale For $13M

Two boutique office buildings located at 320 and 330 Arden Avenue in Glendale were sold for $13 million. The portfolio consists of 43,370 square feet and was marketed at $13.75 million. The buildings, built in the mid-1980s, feature underground parking, patios, and balconies, and were purchased by a local owner-user, significantly increasing in value from the $3.5 million paid by the seller, JSGPT LLC, in 2012.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $13,000,000
• Address: 320 & 330 Arden Avenue
• Market: Glendale
• Square Footage: 43,370
• Price Per Square Foot: $300
• Seller: JSGPT LLC
• Brokerage Firm: CBRE
• Brokers: Mark Shaffer, Gerard Poutier, Anthony DeLorenzo & Dylan Rutigliano

CBRE represented JSGPT LLC in this transaction, highlighting the brokerage's role in facilitating the sale of the office buildings, which are part of the Glendale CBD, marking a notable increase in the property's market value.