Legacy Partners gains office space in Burbank

Property has large vacancy

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Grubb & Ellis Co. represented Legacy Partners Realty Fund I, a private investment company, in the purchase of a 147,889-square-foot office building in Burbank. Calif. The transaction was valued at $43 million. The 10-story, steel-frame building, which is located at 2600 W. Olive Ave. in Burbank's Media District, was 35 percent leased at the time of sale. The property, which also includes five levels of structured parking, was built in 1986 and had the central lobby renovated in 2005. Washington, D.C.-based CarrAmerica Realty Corp. sold the asset. Grubb & Ellis Co. is a full-service commercial real estate organization operating worldwide. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....