California + Los Angeles + Retail | June 16, 2023

Lee & Associates finalized the sale of 865 E. Colorado Blvd., a retail building in Pasadena, CA that will be converted into restaurant space

Vacant Pasadena Retail Will Transform into Restaurant Space

Lee & Associates finalized the $7.1-million sale of 865 E. Colorado Blvd., a retail building in Pasadena. Principals from Lee & Associates – West LA Robert Clifford and Vaun Lennon and Lee & Associates – Pasadena Colleen Carey and Jodi Shoemake represented the seller, KSO Pasadena, LLC. Sean Fang, also from Lee & Associates – Pasadena, represented the buyer.

Situated at the northwest corner of Lake Avenue and Colorado Boulevard, the building was vacant at the time of sale and under-utilized at this prominent intersection. The Lee & Associates brokers presented a proposal to maximize the building’s use, resulting in significant improvements underway to transform the former retail space into a restaurant. Lee & Associates – Pasadena will assist in leasing the space to a popular dining establishment in the near future.

At approximately 10,039 square feet, this retail building features a 24′ bow truss ceiling, basement and mezzanine and will benefit from the zoning changes to the CD-5 Specific Plan currently awaiting approval from the City of Pasadena.

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-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 15-20 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).

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