High-rise commercial buildings

Sub Markets

Property Sectors

Topics

California CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

California  + Los Angeles  + Apartments  | 

Pasadena Offices Sell for Residential Conversion

NAI Capital Commercial EVPs John S. Archibald and Guillermo Olaiz, alongside senior associate Stephen Lam of the Investment Services Group in the Pasadena office, represented the seller, Star Horizon, LLC, in the sale of ZK Plaza, a 41,586-square-foot office building in Pasadena. The property sold for $13,400,000, representing a 3.5% premium over asking.

Located at 600 N. Rosemead Blvd., ZK Plaza occupies a 2.12-acre site in East Pasadena, directly across from General Motors’ advanced design center. Originally built in 1966, the two-story office building was expanded in 1989 and renovated in 2011.

Elysian Housing, LLC, plans to redevelop the site into a 133-unit affordable housing community, adaptively reusing the existing office building for 51 units and constructing a new five-story building with 82 units.

Archibald said, “This transaction highlights the opportunities for well-located properties in established Southern California markets. ZK Plaza’s location in East Pasadena, near major employers and transportation, offers significant potential for its next chapter.”

Read More News Stories About: NAI Global
Connect

Inside The Story

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 19-plus years’ experience covering the commercial real estate industry and 35-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 11-15 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
New call-to-action