Jeff Bezos And Andy Jassy Of Amazon Acquire Industrial Property In Pasadena For $78.8M

An industrial property located at 2964 Bradley Street in Pasadena was involved in a recent sale transaction. The asset measures 168,000 square feet and sold for $78,800,000, which reflects a price per square foot of $469. The transaction is indicative of the rising investments by Amazon in data center development, standing significantly above the seller's 2020 price.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $78,800,000
• Square Footage: 168,000
• Address: 2964 Bradley Street
• Market: Pasadena
• Buyer: Jeff Bezos & Andy Jassy - Amazon
• Seller: Hugh Hilton - Alvarez & Marsal Capital Real Estate
• Price Per Square Foot: $469

Jeff Bezos and Andy Jassy, representing Amazon, were the buyers in this transaction, while Hugh Hilton represented Alvarez & Marsal Capital Real Estate as the seller. The deal emphasizes Amazon's strategy to enhance its data center portfolio, particularly in the 210-tech corridor, where the property has potential for conversion into a data center amidst existing office vacancies in Pasadena.