Listing banner image
  • Zip Code
    91101Zip Code
  • Occupancy
    95%Occupancy
  • Asking Price
    $62,000,000Asking Price
  • State
    CAState
  • Country
    USCountry
  • City
    PasadenaCity

Description

Pasadena Creative Office is a premier six-story, 300,000-square-foot trophy asset situated on a 6.8-acre campus at 525 South Lake Avenue in Old Pasadena. Delivered in 2010 and fully renovated in 2022, the building offers expansive 50,000-square-foot floor plates, state-of-the-art creative office finishes and infrastructure, and a parking ratio of 3.5 stalls per 1,000 square feet (1,050 total spaces). Zoned CO Commercial Office and boasting 95% occupancy, the property currently has a single 15,000-square-foot suite available, providing an immediately leasable footprint for creative,...

Documents

Offering Summary

  • Asking Price
    $62,000,000
  • Price PSF
    $206
  • Property Type
    Office
  • Size
    300,000 SF
  • Occupancy
    95%
  • Total Acres
    ~6.80 ac

Sale Details

  • T12 Cap Rate
    5.50%
  • T12 NOI
    $3,410,000

Documents

Property Address

525 S Lake Ave
Pasadena, CA 91101

Property Details

  • Property Type
    Office
  • Square Feet
    300,000 SF
  • Available Space (SF)
    15,000 SF
  • Occupancy
    95%
  • Year Built
    2010
  • Year Renovated
    2022
  • Stories
    6
  • Floor Plates (SF)
    50,000 SF
  • Parking Ratio
    3.5
  • Total Parking
    1,050
  • Zoning
    CO Commercial Office
  • APN
    5742-009-044

Property Details

Deal Team

Ryan Cooper profile image
Ryan Cooper
Senior Managing Director Senior Managing Director
Newmark
Samantha Wong profile image
Samantha Wong
VP, Office Investment VP, Office Investment
Newmark
Olivia Harris profile image
Olivia Harris
Associate Director Associate Director
Newmark

Description

Pasadena Creative Office is a premier six-story, 300,000-square-foot trophy asset situated on a 6.8-acre campus at 525 South Lake Avenue in Old Pasadena. Delivered in 2010 and fully renovated in 2022, the building offers expansive 50,000-square-foot floor plates, state-of-the-art creative office finishes and infrastructure, and a parking ratio of 3.5 stalls per 1,000 square feet (1,050 total spaces). Zoned CO Commercial Office and boasting 95% occupancy, the property currently has a single 15,000-square-foot suite available, providing an immediately leasable footprint for creative,...

Documents

Offering Summary

  • Asking Price
    $62,000,000
  • Price PSF
    $206
  • Property Type
    Office
  • Size
    300,000 SF
  • Occupancy
    95%
  • Total Acres
    ~6.80 ac

Sale Details

  • T12 Cap Rate
    5.50%
  • T12 NOI
    $3,410,000

Documents

Property Address

525 S Lake Ave
Pasadena, CA 91101

Property Details

  • Property Type
    Office
  • Square Feet
    300,000 SF
  • Available Space (SF)
    15,000 SF
  • Occupancy
    95%
  • Year Built
    2010
  • Year Renovated
    2022
  • Stories
    6
  • Floor Plates (SF)
    50,000 SF
  • Parking Ratio
    3.5
  • Total Parking
    1,050
  • Zoning
    CO Commercial Office
  • APN
    5742-009-044

Property Details

Deal Team

Ryan Cooper profile image
Ryan Cooper
Senior Managing Director Senior Managing Director
Newmark
Samantha Wong profile image
Samantha Wong
VP, Office Investment VP, Office Investment
Newmark
Olivia Harris profile image
Olivia Harris
Associate Director Associate Director
Newmark
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