AIR Commercial Real Estate Assn., one of the country’s largest commercial real estate broker organizations, is moving its headquarters to Glendale, leasing a 6,400 square feet of office space in the high-rise building at 500 N. Brand Blvd.
AIR, a nonprofit formed in 1960, was previously in downtown Los Angeles, but moved to Glendale for cost-saving reasons as well as the fact that many of its 22 employees live in and around the Glendale-Pasadena area.
“Our intention was to stay in downtown L.A,” said executive director Tim Hayes in a statement. “But once we began the search process, it became clear that Glendale was the best option for AIR.”
The association, which signed a long-term lease, will see “significant cost savings while enjoying all of the amenities of a Class A office building in the heart of the Glendale business district,” Hayes said.
Details of the lease arrangement were not disclosed.
AIR’s membership includes approximately 1,600 real estate professionals, and it also maintains an office in the City of Orange.
The association provides specialized lease forms and purchase orders for industrial and office real estate, and maintains its own listing system.
--Daniel Siegal, Times Community News