Sands Assumes Leases on 4 Glickman Realty Offices

Brentwood-based Fred Sands Realtors was awarded on Monday the leases on four of the five offices previously occupied by the bankrupt Mike Glickman Realty Inc., formerly the San Fernando Valley’s largest residential brokerage.

Sands’ plan to assume the leases on offices in Encino, Sherman Oaks, Agoura and Northridge was accepted by the Federal Bankruptcy Court in Los Angeles, which must approve all transactions involving Glickman creditors.

Glickman, once considered the golden boy of Valley real estate, filed for personal and corporate bankruptcy liquidation July 5. Three days later Glickman announced his plans to become a marketing executive for Jon Douglas Co. of Beverly Hills, Sands’ biggest rival. At the time, Douglas said he hoped to assume the Glickman leases.

But Jim Matthews, a paralegal in the office of the trustee for Glickman’s estate, said Douglas dropped out of the bidding after Sands submitted his final plan to the court. Douglas could not be reached for comment Monday.