
Columbia Completes $78M Sale of Pasadena Corporate Park
Columbia Property Trust Inc. completed the sale of Pasadena Corporate Park, a three-building office complex containing 260,000 square feet in Pasadena, CA, for a gross sales price of $78 million. The buyer of the property at 3475 E Foothill Blvd., was unnamed. (4-16-20: Subsequently, Connect Media learned the buyer was Cherng Family Trust, an affiliate of Panda Restaurant Group.)
In 2019, Columbia secured a 65-month renewal at the complex with environmental consulting and engineering firm Tetra Tech for 61,000 square feet. Other tenants at the 94%-leased asset include Green Dot, a provider of low-cost banking and payment solutions.
The complex was built in 1961, and underwent a major adaptive reuse renovation to convert the three buildings of lab space to offices in from 1999 to 2001. Rising Realty Partners manages the asset.
For comments, questions or concerns, please contact Dennis Kaiser