Industrious Partners With Granite Properties for First Glendale Location
Per the management agreement, Industrious will oversee 24,000 square feet of vacant space in the Los Angeles County building dubbed 500@TheBrand, totaling the entire 20th floor and half of the 21st floor of the 23-story property in the central business district, which is slated to open next June.
“Industrious is excited to partner with Granite on building our next Los Angeles location,” Katharine Lau, the senior director of real estate at Industrious, said in a statement. “We chose to build our next Los Angeles location in Glendale because it’s such a growing market, with high-growth startups and companies across industries converging.”
Granite’s @TheBrand community is made up of two adjacent Class-A office buildings: a 431,835-square-foot building at 500 North Brand Boulevard and a 307,384-square-foot building at 550 North Brand Boulevard. The two buildings are connected by an outdoor space and are located within walking distance of The Americana at Brand mall. Current tenants at 500 North Brand include Golden State Bank, PCL Construction and deposition services agency Atkinson-Baker.
“Our partnership with Industrious allows us to offer our existing and future customers attractive and flexible workplace options as their needs change,” Jason Purvis, the senior managing director of Granite Properties SoCal, said in the release. Purvis declined to disclose the financial nature of the arrangement, saying they were confidential.
This will be Industrious’ first location in Glendale and eighth in California. Granite, meanwhile, owns and manages eight Class-A office buildings in Southern California totaling approximately 1.6 million square feet, including 2600 West Olive Avenue in Burbank.