Kidder Mathews, a commercial real estate firm, recently facilitated the lease of a 42,110-square-foot property located at 533 Glendale Blvd. in Los Angeles’ Echo Park neighborhood. The team from Kidder Mathews – John Anthony (SIOR), Christopher Steck (CCIM), and Christopher Giordano – represented the owner of the building, Salvo Holdings Inc., in securing Ednovate as their new tenant.
Ednovate is a network of free public college preparatory high schools operating in Southern California. They will be converting this former office building into a charter school, which reflects an increasing trend towards adaptive reuse as the office market faces challenges. The two-story building is conveniently situated near Highway 101 and only two blocks away from Echo Park Lake.
According to Anthony: “This success story for vacant office buildings comes at a difficult time for this sector.” He further explains that they were able to creatively reposition the property by finding an ideal tenant who not only occupied all available space but also transformed it into an advanced education campus using cutting-edge technology.
In summary:
Kidder Mathews successfully arranged for Ednovate to lease Salvo Holdings Inc.’s former office building located at 533 Glendale Blvd. in Los Angeles’ Echo Park neighborhood through their representatives John Anthony (SIOR), Christopher Steck (CCIM) and Christopher Giordano.The newly leased property will be converted into a charter school reflecting current trends towards adaptive reuse amidst challenges faced by the office market.The two-story structure’s prime location off Highway 101 and its proximity to Echo Park Lake make it ideal for repurposing.Anthony notes that this achievement stands out amidst difficulties currently experienced within this sector.He adds that creative repositioning efforts led them to secure one tenant who would occupy all available space while transforming it with modern technology into an innovative educational campus.
