Glendale Federal Plaza Purchased by Private Investors
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Charles Frandson and Ralph Horowitz, two private investors, have purchased Glendale Federal Plaza in Sherman Oaks from Glendale Federal Savings & Loan Assn. for $10 million.
The plaza, located at 13700 Riverside Drive, contains a 21,829-square-foot office building and 23,381 square feet of retail space. A 30,000-square-foot Pritikin Health and Fitness Center is also on the 3.06-acre site.
All parties in the transaction were represented by the Sherman Oaks office of Coldwell Banker Commercial Real Estate Services. Glendale Federal leased back 11,409 square feet of the office space in the plaza for an undisclosed amount, a spokesman for Coldwell Banker said.
The brokerage firm said the sale of the 22-year-old plaza, which is fully leased, is one of this year’s largest retail real estate transactions in the San Fernando Valley.
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