Pasadena’s Historic Pottery Barn Building in New Hands
Hanley Investment Group Real Estate Advisors completed the sale of the historic Pottery Barn building at the intersection of Colorado Boulevard and Fair Oaks Avenue in Old Pasadena. The sale price was $16.1 million.
NKF’s Rob Ippolito, Glenn Rudy and Pete Bethea represented the buyer, an undisclosed private investor. Hanley’s Carlos Lopez and Lee Csenar represented the seller, Federal Realty Investment Trust.
The five-story, 30,955-square-foot building, built in 1905 and renovated in 1997, is leased to Pottery Barn on three levels. The property includes two floors of residential and one floor of office leased to other tenants. Pottery Barn has been at this high-identity location for over 20 years and, last year, executed a lease extension demonstrating their commitment to the location, notes Lopez.
“This is a generational acquisition for an iconic property located at the premier intersection in Pasadena to a Southern California-based investor,” added Lopez.
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