Sean Namvar Of Equimax Acquires Retail Property In Pasadena For $7.25M From James Schafer

The asset involved in this transaction is a retail property located at 3635 East Colorado Boulevard, Pasadena, California. The property consists of a total area of 24,132 square feet and was sold for $7,250,000, representing a price per square foot of $300. It sits on 1.22 acres and includes 66 parking stalls. The site features a 21,932-square-foot freestanding building leased to Scandinavian Designs and a 2,200-square-foot restaurant pad occupied by Super Burrito, both of which have established a long-term presence at this location.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $7,250,000
• Buyer: Sean Namvar - Equimax
• Seller: James Schafer, as Executor of the Estate of Alberta Mae Schafer
• Brokers: Joseph Lising, Lars Platt & Mitchell Neff - Cushman & Wakefield
• Attorney: Edmond Nassirzadeh - Nass Law
• Square Footage: 24,132
• Price per Square Foot: $300

This transaction was facilitated by Sean Namvar representing Equimax, a national real estate investment firm focusing on value-add and opportunistic acquisitions. The property is strategically located at the gateway to the San Gabriel Valley, benefiting from significant traffic along Colorado Boulevard and proximity to the I-210 freeway. The involved brokers from Cushman & Wakefield were instrumental in the successful negotiation and completion of this sale.