Blatteis & Schnur Acquire Retail Property On Colorado Blvd. In Pasadena For $52.2M
64-68 W Colorado Blvd, Pasadena, CA 91105
$52,200,000
$1,836/SF
Building Size
28,421 SF
Asset Type
Retail
Closing
Jun 20, 2022
AI
Blatteis & Schnur has acquired a retail property located at 64-68 Colorado Blvd. in Pasadena. The transaction was facilitated by CBRE brokers Jimmy Slusher, Philip Voorhees, and Trent Steeves. The property spans 28,421 square feet and was sold for a price of $52,200,000, resulting in a price per square foot of $1,838.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $52,200,000
- Square Footage: 28,421
- Address: 64-68 Colorado Blvd.
- Market: Pasadena
The acquisition of the retail property at 64-68 Colorado Blvd. in Pasadena was led by Blatteis & Schnur. The deal was facilitated by CBRE brokers Jimmy Slusher, Philip Voorhees, and Trent Steeves. They represented Blatteis & Schnur in the transaction. This deal marks another success for Blatteis & Schnur in expanding their portfolio within the retail market in Pasadena.
Players
Pasadena Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.30%
Cash-on-Cash
-0.09%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93