Pasadena Towers Sold For $125M Marking Major Office Deal In South Lake Avenue District

Pasadena Towers is an office complex located at 800 East Colorado Boulevard and 55 South Lake Avenue in Pasadena. The property encompasses 2.28 acres and features a total square footage of 477,101. It has been sold for a transaction amount of $125,000,000, representing a price per square foot of $262. The property comprises twin nine-story buildings situated in Pasadena's South Lake Avenue District.

Summary of transaction details:

• Property Type: Office
• Transaction Amount: $125,000,000
• Square Footage: 477,101
• Address: 800 East Colorado Boulevard & 55 South Lake Avenue
• Market: Pasadena
• Acres: 2.28
• Price Per Square Foot: $262

The transaction involved representatives from Newmark, including Kevin Shannon, Ken White, Rob Hannan, Laura Stumm, Michael Moll, and Alex Beaton. This sale is noted as one of Los Angeles' largest office deals of the year, attributed to factors like a premium location and a strong tenant profile featuring top-tier tenants such as Morgan Stanley.