CBRE Global Investors Fund Buys Two Office Buildings in Los Angeles

LOS ANGELES — The CBRE Strategic Partners U.S. Value 8 has purchased two office buildings in the Los Angeles submarket of Glendale for an undisclosed sum. The acquisition includes the 290,847-square-foot building at 801 N. Brand Blvd. and 136,016-square-foot building at 700 N. Central Ave. The transaction also includes a 50 percent ownership interest in an adjacent parking structure.

Both buildings have been recently renovated and feature efficient floorplates. CBRE will implement a planned capital improvement program. The assets are currently 89.9 percent leased to a base of institutional-quality tenants.