1239 S Glendale Ave, Glendale, CA 91205, USA For Sale Print this page

$24,000,000 

Block-to-Block Site Rare Development Opportunity

1239 S Glendale Ave, Glendale, CA 91205, USA

PROPERTY INFORMATION

PARCEL AREA 2.21 AC No. OF FILM STUDIOS 4
PRICE/SF ON LAND $248.97 TENANCY Short Term Tenancy
PROPERTY TYPE Commercial LOT SIZE 21,703 SF
TENANCY Short-Term Tenancy STREET FRONTAGE 363 Feet on Glendale Blvd.

HIGHLIGHTS

  • The acquisition of Glendale Studios presents an investor/developer with a once in a generation opportunity to purchase 2.2 acres in an dense infill location in the city of Glendale CA – seldom do these opportunities present themselves to investors.
  • An investor/developer can purchase and receive passive income while processing entitlements with the City of Glendale to develop a commercial property.
  • The property benefits from an urban in infill location that is proximate to both residential and commercial uses – this is among the most densely populated trade areas.
  • Over 310 linear feet of frontage along Glendale Avenue with traffic counts at this block exceed 34,000 cars per day passing the site.
  • Dense, infill location in an established community will limit future competition from new or redevelopment; there is NO commercial land left in the trade are
  • Extremely strong market dynamics with strong forecasted growth.
  • Current zoning is C3 and R2250 which allows for a multitude of uses.
  • Located on an oversized parcel with potential to accommodate sizable development and a variety of uses for the site.
  • Variety of uses would be supported by the market and City of Glendale.

DESCRIPTION

Hudson Partners as exclusive advisors is pleased to present a unique opportunity to acquire 1239 S. Glendale Avenue (Glendale Studio’s Site), a +/- 2.21-acre Block-to- Block development site located in Glendale CA. The property consists of 7 contiguous lots with an aggregate size of approximately 96,396 SF of land with tremendous street frontage and visibility along S. Glendale Avenue and S. Maryland Avenue. The adjacent parcels located at 1238 S Maryland Avenue +/- 10,000 SF can also be assembled as part of the acquisition (offering memorandum for 1238 S Maryland Avenue available upon request)

The site is nestled between the Glendale Downtown Speci c plan (DSP) and the South Glendale market. The development pad is well positioned in both size and location to support a myriad of potential redevelopment uses. In addition, the property bene ts from exceptional visibility and frontage of approximately 310 linear feet on S. Glendale Avenue and 298 linear Feet on S. Maryland Avenue. Glendale Avenue is a major north/ south thoroughfare in the trade area- traf c counts exceeds 34,000 cars per day passing the site.

The site is currently zoned as C3 Commercial Services and R2250 Medium Density Residential. The neighborhood consists of numerous smaller privately owned parcels making this assemblage an extremely rare opportunity for large-scale redevelopment investment. Additionally, a developer can bene t from a current supplemental income stream from leaseback of approximately $130,000 a month during the entitlements process. (Please refer to the attached Financial Analysis)

The acquisition of Glendale Studios presents an investor/developer with a once in a generation opportunity to acquire a large, prime mixed-use site and dense in ll location, with excellent access to three major freeways including the 5, 2 and 134 freeways. Seldom do these opportunities present themselves to investors.

Recent notable projects within close proximity to the offering are the Camden Triangle, a 288 unit mixed use project by Camden Property Trust and the Tropico Apartments, a 225 Apartment project by Millcreek Residential. Furthermore, the property is located with 0.5 Miles from Glendale Memorial Hospital and 1.1 Miles from The Americana at Brand.
Offering Memorandum

Property Map