425 West Broadway
High-Yielding Stable Cash Flow with Credit Anchors | Glendale, CA
Marketing description
Business Friendly & Amenity-Rich Location with Strong Regional Access
— Glendale is among the region’s most business-friendly cities, the third largest city in Los Angeles County. The city has a lower cost of doing business in comparison to Pasadena, Burbank and Los Angeles with lower property taxes, lower transient occupancy taxes, lower utility user taxes, no parking tax and no gross receipts tax.
— Regional Access – This asset maintains a strategically prominent position in the office market given its centralized location access to the I-5 (Golden State) Freeway, SR-2 (Glendale) Freeway, SR-134 (Ventura) Freeway and 210 (Foothill) Freeway.
Investment highlights
Download OM here: https://bit.ly/425broadwayCX
Best-In-Class Institutional Office with Diverse Tenant Mix Anchored by Major Insurance Agency
— 100% leased to a diverse mix of 17 tenants across healthcare, insurance, government, and financial service tenants with a weighted average lease term of 4.49 years.
— Recent renewal by anchor tenant, Acrisure (25.51%) until 2032 cements their long-term commitment to the property with over 26 years of tenancy at the project.
— Since 2018, ownership has invested over $3 million in capital and tenant improvements throughout the property including:
• Lobby modernization
• HVAC upgrades
• Lighting upgrades
• Restroom & interior improvements
• Landscaping upgrades
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