Glendale Brokers Unite for a Night

The city of Glendale’s Economic Development Division hosted Glendale’s Broker Reception at Eden on Brand on May 8, attracting some 60-plus attendees, primarily from the local real estate industry. After Mayor Ara Najarian kicked off the event, City Manager Yasmin Beers highlighted some upcoming developments downtown, including a revitalization of the Arts and Entertainment District on Artsakh Avenue, a Central Park Block redesign, and the development of the Alajajian Marcoosi Architects-designed Armenian American Museum and Cultural Center. Later, brokers and developers, including Randy Stevenson; John Buckley Gordon of Irish Commercial Brokerage Inc.; Weston Cookler of Avalon Investment; and a clutch of CBRE Group realtors, who have a major headquarters at 234 S. Brand Blvd. in a former Masonic temple building, mingled while discussing the role of real estate in Glendale’s civic life. Project updates included new hotel development such as Hotel Louise and Starwood Aloft, and a continuing campaign to shore up office vacancies along Brand Boulevard. For first quarter 2019, Glendale posted 16.8 percent vacancy in the office sector, up from 15.5 percent year over year, according to Colliers International data. Closing the reception, Downtown Glendale Association President Rick Lemmo, who leads marketing and communications at Caruso – the developer behind downtown Glendale’s Americana at Brand center – provided updates on new businesses, including Mumford Brewery, Bea Bea’s and the recent opening of Chess Park Tavern and Big Mama’s & Papa’s Pizza.