DivcoWest sells Glendale offices for 61% less than pre-pandemic purchase price

DivcoWest unloaded an office building in Glendale at a 61 percent discount from the asset’s sale price nearly a decade ago.  The San Francisco-based firm sold 655 North Central Avenue for a purported $70 million, Bisnow reported. An LLC tied to Sunny Hills Management Company was the buyer of the 24-story tower.  The sale price of the building was not disclosed in public records, but the documentary transfer tax in the deal was $77,000. Bisnow determined the $70 million price tag using that and the standard Los Angeles County transfer tax rate.  DivcoWest purchased the 542,000-square-foot office building in 2017 […]

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