Coldwell Banker Arranges $9M Pasadena Retail Building Sale

Coldwell Banker Commercial Realty has represented both buyer and seller in the $9 million sale of 1155 East Colorado Boulevard, a 21,000-square-foot retail building in Pasadena, CA. The single tenant, net-leased property is occupied by Michaels, which has a long-term lease in place.

“This property has tremendous value, being located along Colorado Boulevard, one of the busiest thoroughfares in Pasadena. It offers convenient ingress/egress, large street frontage and abundant on-site parking. The property is zoned for mixed-use or multifamily, which gives the asset outstanding development potential,” said Coldwell Banker’s Bill Ukropina, part of the team that represented the seller, Colomar Partnership. Robert Ip, Kathi Constanzo and Alex Banks were also on the team.

The investment property occupies two contiguous parcels on just under an an acre. It’s positioned on a signalized corner of Colorado Boulevard, part of the Rose Parade corridor in Pasadena.