Morton Development Group Purchases Property From Colorado Creative LLC For $5.3 Million In Pasadena

The Artistry Theater Building, located at 600 E. Colorado Blvd. in Pasadena’s Playhouse District, has sold for $5,300,000.00. The property covers an area of 15,060 square feet and was originally built in 1931 as a United Artists theatre. It has been vacant for over three years following the departure of its last tenant, Angels School Supply, and has fallen into disrepair over time. The buyer plans to redevelop the long-vacant property into a retail and office asset.

Summary of transaction details:

• Property Type: Theater Building
• Transaction Amount: $5,300,000.00
• Address: 600 E Colorado Blvd, Pasadena, CA
• Market: Pasadena
• Seller: Colorado Creative LLC
• Buyer: Morton Development Group
• Seller's Rep: Andrew Berk-Avison Young, Chase Gordon-Avison Young

Andrew Berk and Chase Gordon from Avison Young represented the seller in this transaction, while the buyer, Morton Development Group, was self-represented. The property is slated for redevelopment, indicating the buyer's intent to revitalize this long-vacant site.