Newmark arranged the sale of 505 N. Brand Blvd., a 329,431-square-foot, recently renovated Class A office tower located in Glendale. The property sold for an undisclosed amount.
Co-Head of U.S. Capital Markets Kevin Shannon, Vice Chairmen Ken White, Rob Hannan, Michael Moll and Laura Stumm, Executive Vice Chairman Kevin Donner, Managing Director Ben Lushing and Director Alex Beaton represented the undisclosed seller.
The buyer is a partnership between Landrock LP and Pendulum Property Partners. Newmark Co-President, Global Debt & Structured Finance Jonathan Firestone, Vice Chairman Blake Thompson and Director Henry Cassiday led market financing alternatives throughout the sales process.
“Pendulum and Landrock’s acquisition represents a broader trend of institutional operators and capital re-entering the office sector for best-in-class product,” said Shannon. “There is more conviction that 2025 office product will be a good vintage, similar to 2009.”
