Blatteis & Schnur Acquire Retail Property On Colorado Blvd. In Pasadena For $52.2M
SOLD
$52,200,000
California
See Similar DealsRetail28,421 SF
Sold 06/21/2022
SOLD
Blatteis & Schnur Acquire Retail Property On Colorado Blvd. In Pasadena For $52.2M
64-68 W Colorado Blvd, Pasadena, CA 91105
See Similar DealsRetail28,421 SF
Sold 06/21/2022
Summary
CALIFORNIA
Asset Type:Retail
Price Per Square Foot:$1,836
Total Square Footage:28,421 SF
Transaction Type:Sale
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
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,784,000.00
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$185,455.57
Cash-on-Cash Return-1.27%
Monthly Debt Service$247,454.63
Annual Debt Service$2,969,455.57
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