Pasadena Capital Investments Acquires Property From Tokyo Land US Corp For $19.4M

The property asset involved in the transaction is a 34,000-square-foot complex located at 130 W Union St, Pasadena, CA, within the Pasadena market. It has been sold for $19,400,000.00. The site, which is leased to startup studio Idealab through 2019, was originally five individual, single-story structures before being consolidated into a large, collaborative open plan building in 2000.

Summary of transaction details:

• Property Type: Commercial
• Transaction Amount: $19,400,000.00
• Address: 130 W Union St, Pasadena, CA, 91103
• Market: Pasadena
• Buyer: Pasadena Capital Investments
• Seller: Tokyo Land US Corp
• Buyer's Representatives: Chris Comfort, Eric Mandell (Apex Properties)

The deal was facilitated by Chris Comfort and Eric Mandell of Apex Properties, who represented the buyer, Pasadena Capital Investments. This transaction marks a significant development for both Fairway Real Estate and Tokyo Land US Corp, as the joint sellers originally purchased the site as a leaseback transaction for $13.5 million, indicating a substantial appreciation in value since their initial investment.