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Glendale, Calif. (August 8, 2022) – Coldwell Banker Commercial Realty represented both the buyer and the seller of Hotel Glendale Lodge, located at 1510 E. Colorado St. in Glendale, Calif. The property sold for $15.5 million.
Robert Ip , a commercial real estate professional with Coldwell Banker Commercial Realty, was the broker who represented both the buyer and the seller on the transaction. The buyer intends to operate the property as a hotel. The three-story hotel consists of approximately 62 rooms.
“Hospitality investments in Glendale and the surrounding areas continue to draw interest from investors and developers who view it as a stable and income-generating commercial asset class. The buyer intends to continue operating the property as a hotel,” said Ip.
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Coldwell Banker Commercial Realty, the local affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally. For additional information, visit www.cbcworldwide.com.
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