Kidder Mathews is pleased to announce the successful lease of a 42,110-square-foot property at 533 Glendale Boulevard in Los Angeles, California. The company’s John Anthony, SIOR, Christopher Steck, CCIM, and Christopher Giordano represented the owner, Salvo Holdings, Inc., in leasing the former office building to Ednovate — a network of free public college preparatory high schools in Southern California.
The property will be converted into a state-of-the-art charter school, reflecting a growing trend in adaptive reuse as the office market continues to face challenges. Centrally located in LA’s Echo Park neighborhood, the two-story building is directly off Highway 101 and two blocks from Echo Park Lake, with a walk score of 78.
“This is one of the few success stories for vacant office buildings in these difficult times for the sector,” said Anthony, an executive vice president at Kidder Mathews. “We were able to creatively reposition the property as a potential school and locate a tenant who would not only occupy the entire building but also transform it into a high-tech education campus.”
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Idaho, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages over $10 billion in transaction volume, manages more than 55 million square feet of space, and conducts 2,600 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
