CommonWealth Closes $80-Mil Office Buy

GLENDALE, CA-New York-based Westbrook Partners recently closed on the sale of a 410,000-sf, three-building office portfolio in Glendale to Los Angeles-based CommonWealth Partners. The sale price is not being officially released, but a source with one of the companies tells GlobeSt.com the buildings traded hands for about $80 million.

The purchase included a 270,000-sf building at 801 N. Brand Blvd., a 130,000-sf building at 700 N. Central Ave. and a 10,000-sf building at 200 Burchett St. The largest building is 97% leased, though Commonwealth Land Title Insurance Co. is planning to vacate its space in the building mid-year in favor of sublease space elsewhere in the city.