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Pendulum Property Partners Acquires Burbank Office Building For $61.5M

2901 West Alameda Avenue
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This Office property located in CA was sold for $61,500,000 almost 4 years ago. The broker of the deal was Kevin Shannon

The office building located at 2901 W. Alameda Ave. in Burbank has been sold for a total price of $61,500,000. The transaction took place on May 26, 2021. The property spans a total of 124,785 square feet, resulting in a price per square foot of $492. The buyer in this transaction is Pendulum Property Partners, represented by Kevin Hayes. On the other hand, the sellers are Fortress Investment Group, represented by Peter Briger, and Ocean West Capital Partners, represented by Russ Allegrette. The brokerage services for this deal were provided by Kevin Shannon of Newmark.

Summary of transaction details

  • Property Type: Office
  • Transaction Amount: $61,500,000
  • Address: 2901 W. Alameda Ave.
  • Market: Burbank
  • Buyer: Pendulum Property Partners - Kevin Hayes
  • Seller: Fortress Investment Group - Peter Briger & Ocean West Capital Partners - Russ Allegrette
  • Broker: Kevin Shannon - Newmark
  • Square Footage: 124,785
  • Price per Square Foot: $492

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Deals
  • Location
    2901 West Alameda Avenue, Burbank, CA 915052901 West Alameda Avenue, Burbank, CA 91505
  • Sale Price
    $61,500,000$61,500,000
    $492 PPSF$492 PPSF
  • Area
    124,785 SF124,785 SF
  • Asset Type
    OfficeOffice
  • Parties
    1 Broker, 1 Agency1 Broker, 1 Agency

Agent

Kevin Shannon

Kevin Shannon

Deals79
Financed$4.9B

Agency

Newmark

Newmark

Agency
Deals3894
Volume$397.4B

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Deal Summary

SALE IMAGE: Peter Briger, Kevin Hayes, Russ Allegrette & Kevin Shannon DATE: 05/26/2021 ADDRESS: 2901 W. Alameda Ave. MARKET: Burbank ASSET TYPE: Office BUYER: Pendulum Property Partners - Kevin Hayes SELLER: Fortress Investment Group - Peter Briger & Ocean West Capital Partners - Russ Allegrette BROKER: Kevin Shannon - Newmark SALE PRICE: $61,500,000 SF: 124,785 ~ PPSF: $492

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2901 West Alameda Avenue

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