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301 North Lake Avenue

Raymond James & Associates Signs Lease For 19,721 SF At 301 N. Lake Ave. In Pasadena CA
LEASEDOffice

Raymond James & Associates Signs Lease For 19,721 SF At 301 N. Lake Ave. In Pasadena CA

301 North Lake Avenue

Building Size

19,721 SF

Asset Type

Office

Closing

Nov 28, 2023

AI

Barker Pacific Group (BPG) has announced a lease transaction at 301 North Lake Avenue in Pasadena, California. The property is an office space spanning 19,721 square feet. This strategic leasing effort has brought the building's occupancy to 84%, reflecting Barker Pacific Group's commitment to enhancing the property and providing attractive returns to investors.

Summary of transaction details:

  • Property Type: Office
  • Transaction Amount: Not applicable
  • Market: Pasadena
  • Address: 301 North Lake Avenue
  • Square Footage: 19,721

The tenant involved in this lease transaction is Raymond James & Associates Inc., represented by Paul Reilly. The lease agreement includes the renewal of their existing lease for 8,873 square feet, as well as an additional 10,848 square feet. Barker Pacific Group is represented by Michael Barker, while the tenant's representative is John Winnek from Cushman & Wakefield. Scott Unger, from Kidder Mathews, acted as the landlord's representative. With this lease, Barker Pacific Group has successfully secured a prominent tenant, further solidifying the company's leasing efforts.

Players

Scott Unger

Kidder Mathews

Broker

$43.1M

vol

5 deals

Broker
Michael Barker

Michael Barker

Barker Pacific Group

Landlord

$33.6M

vol

6 deals

Landlord

Pasadena Office Market Snapshot

Boundary boundary · Office · Lease transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93