Glendale Marketplace

106-148 South Brand Blvd. Glendale, CA 91204

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PRICE: 

$55,000,000

Tenants

Old Navy, Home Goods, Linens & Things, United Artists Theater, Outback Steakhouse

Building Size: 
Land Size

158,527 SF

96,272 SF

Challenge

Solution

  • The deal was originally under contract with another Buyer that wasn’t performing.

  • The Seller had a CMBS loan in place with a $5 million defeasance penalty

  • Through the team’s marketing channel they were able to locate a Buyer willing to pay a higher price than the first contracted offer.

  • Buyer removed contingencies in14-days and released $1 million as earnest money deposit.

  • The $5 million defeasance penalty was added to the purchase price, resulting in a substantial tax benefit to the seller.