Melby & Anderson LLP, a Glendale law firm, sold its nearly 5,000 square-foot office building last week for $1.69 million.
Partner Patrick Liddell said the law firm needs less space after several attorneys left in recent years to retire or pursue other interests. Liddell said the firm will likely leave the building in about three months and is looking for office space in both Glendale and La Canada Flintridge.
While the overall Glendale office market is “terrible,” small owner user buildings are doing much better than for lease space, said Scott Unger, an associate with Charles Dunn Company Inc., who along with his partners, senior managing director Bill Boyd and senior managing director Linda Lee, represented the seller.
“Smaller properties like this are fairly rare to come across,” Unger said, adding historically low SBA loan rates make now an attractive time to buy.
Tyler MacCready, a geologist, purchased the building, which is located at 505 East Wilson Ave. and was built in 1977, Unger said.