Dr. Andre Saad Acquires Glendale Office Building On Myrtle Ave. For $2.25M

The property involved in this transaction is an office located at 73-09 Myrtle Ave in Glendale. The property has a zoning classification of R5D and C1-3. It was sold on 03/01/2021.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $2,250,000
• Address: 73-09 Myrtle Ave
• Market: Glendale
• Asset Type: Office
• Zoning: R5D, C1-3

The buyer in this transaction is Dr. Andre Saad. The buyer was represented by Michael Ventre from Windsor Commercial Real Estate. The seller was represented by Tom Bouklis from The Bouklis Group.

The asking price for the property was $2,500,000. The building has a total gross square footage of 9,414, resulting in a price per square foot of $239. The usable square footage is 6,496, and the price per square foot comes out to be $346. The capitalization rate for the transaction is 4.6%.