The building at 600 W. Broadway in Glendale was built in 1986 and was 95 percent occupied by the close of escrow.
The buyer, Ohno Enterprises, plans to occupy more than half the property.
Avison Young Principals Andrew Berk and Mark Evanoff, based out of the company’s North Los Angeles office, represented seller Positive Investments. Artak Dovlatian of Specialized Realty represented Ohno.
“This was a very challenging transaction as tenants within the building were unsure about their tenancy due to COVID-19,” Berk said in a statement. “We worked overtime to communicate and negotiate with many of the tenants over numerous weeks to create solutions that worked for all parties, successfully completing the deal.”
Berk added that his firm had sold the property to Positive Investments a few years ago. Once Positive Investments made significant capital improvements to the property, they embarked on selling the asset.
Located near The Americana at Brand and Glendale Galleria shopping centers, the building is within a short drive from headquarters for companies such as Walt Disney Co., Warner Bros. Entertainment, Avery Dennison and ServiceTitan.