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California  + Office  | 

JLL Handles Pasadena Value-Add, Redevelopment Opportunity

101 S. Marengo, a 315,000-square-foot, Class A office asset in Pasadena has traded hands for reportedly $72 million. Originally built in 1974, the building was occupied for many decades by a single tenant that vacated in 2019. Bank of America housed a credit card processing facility at the site.

The asset is located on a 2.88-acre transit-oriented site near Old Town Pasadena, just a block from the LA Metro Gold line and close to numerous freeways. 101 S. Marengo now offers the potential to fully renovate the building and create one of the premier office buildings in the Tri-Cities.

JLL Capital Markets team representing the seller, Woodbridge Capital Partners, was led by Michael Leggett, Andrew Harper, Will Poulsen and Patrick Church with the JLL leasing team. JLL also procured the buyer, reportedly Atlas Capital Group.

*Story has been updated 6.1.2020 with names of buyer and seller, as well as acquisition price.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Development
  • ◦Sale/Acquisition
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