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64-68 W Colorado Blvd, Pasa...

Blatteis & Schnur Acquire Retail Property On Colorado Blvd. In Pasadena For $52.2M
SOLDRetail

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

Jimmy Slusher

CBRE

Broker

$474.4M

vol

16 deals

Broker
BS
Blatteis & SchnurBuyer

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