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The 527,338-square-foot 800 North Brand Blvd. office tower in Glendale, CA was acquired from Piedmont Office Realty by Beacon Capital Partners, according to multiple press reports.
Retail is changing rapidly, and landlords need to transition away from the standard lease-and-collect-rent model and invest in retailers and a branded experience.
The sale, reported on Thursday, marks Skanska's final disposition of four adjacent Seaport properties it developed, which also include 101 Seaport, Harbor Way and Watermark Seaport.