Six25 Fair Oaks Lease Comes at a Time When Office Continues to Struggle with COVID

Los Angeles-based Greenbridge Investment Partners recently signed a major tenant at Six25 Fair Oaks in South Pasadena to bring the office property to 96 percent capacity just three years after its acquisition. Greenbridge, which acquired the property at 625 Fair Oaks Ave. for $31 million in 2018, has leased 5,580 square feet to Tokio Marine Highland Insurance Services for five years and five months.

This lease brings the three-story class-A property built in 1987 to 96 percent occupancy. The transaction comes at a time when office real estate continues to struggle with the effects of COVID.

“Though the pandemic has decimated the office market for half the time Greenbridge has owned this asset, we’ve achieved incredible leasing success that underscores the asset’s status as both pandemic-proof and recession-resistant. While reaching near full occupancy in this era seems unimaginable, we’ve achieved it through careful positioning of the property,” said Joshua Farahi, partner at Greenbridge Investment Partners.

Since acquiring the building, Greenbridge has carefully positioned the asset, completing modernizations to common areas, corridors and tenant suites. This has established Six25 as office space that has since retained existing tenants and attracted new leases even as other office properties struggle.