May 31, 2016
In an off-market transaction, Madison Partners completed the sale of 500 N. Central Ave., a 123,732 square foot Class A office property in Glendale, CA. Southern California-based Volwood Corporation purchased the property for $27,325,000, which translates to $221 per-square-foot, from Peregrine Realty Partners.
Built in 1991, 500 N. Central Ave. features on-site parking, a high-end common area and a per floor average of 14,000 rentable square feet. Tenants include Maxim Healthcare, AIG/Valic, and The State of California.
Madison Partners’ Bob Safai, Matt Case, and Brad Schlaak represented the buyer. This marks Madison Partners’ 10th off-market transaction in the last 24 months.