Faris Lee Investments Sells Retail Property In Pasadena For $28.5M

A retail property located at 460 S. Lake Ave. in Pasadena has been sold for $28,500,000. The property spans across 38,513 square feet, resulting in a price per square foot of $740. The transaction took place on February 4, 2022, with a capitalization rate of 4.73%. The property is situated in the Pasadena market.

Summary of transation details

• Property Type: Retail
• Transaction Amount: $28,500,000
• Square Footage: 38,513
• Price Per Square Foot: $740
• Date: February 4, 2022
• Capitalization Rate: 4.73%
• Market: Pasadena

The sale of this retail property was facilitated by Faris Lee Investments, with brokers Jeff Conover, Don MacLellan, and Scott DeYoung representing the parties involved.