Urban retail center in Glendale sells for $64m

Chicago-based Pine Tree has acquired the Glendale Marketplace, a 154,049-square-foot urban retail center in Glendale, Calif., for $64.1 million. JLL Capital Markets represented the seller, EB Arrow.

The retail center is situated on 2.2 acres in an urban, infill area of Glendale, which is the third-largest city in Los Angeles County. The property is 94.8 percent leased to popular fitness, home furnishings restaurant and discount store big-box tenants, such as Ross Dress for Less, LA Fitness, HomeGoods, Five Below, Buffalo Wild Wings and Old Navy.

Pine Tree is a private commercial real estate company with a national, institutional-quality, retail-focused platform investing in and providing services to shopping center assets across the risk spectrum. The firm has approximately $3 billion of retail assets under management.