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May 29, 2020
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315k sf Class A Office Asset in Pasadena Sells


A 315k sf, Class A office asset in Pasadena has just sold. The five-story property, built in 1974, sits on a 2.88-acre site at 101 S. Marengo, on the south side of Colorado Blvd and just east of Arroyo Pkwy.

The deal price was not given out, although we can tell you that the L.A. County Tax Collector has the property’s assessed value for the 2019 – 2020 tax year as $78.15 mil with the actual property tax owed at $825.3k.

101 S. Marengo Avenue is located just one block from the LA Metro Gold line and in close proximity to numerous freeways, including the Pasadena (110), Ventura (134) and Foothill (210) Freeways, which offer east and west access to the greater Los Angeles area. The building was occupied for many decades by a single tenant that vacated in 2019, providing the new owner the potential to fully renovate the building and create one of the premier office buildings in the Tri-Cities.

Additionally, with a Walk Score® of 98, 101 S. Marengo is steps from Old Town Pasadena, a 22-block area with numerous dining, retail and entertainment outlets, as well as Paseo Colorado, an outdoor lifestyle destination with top-tier shopping, dining and entertainment featuring Archlight Cinemas, Equinox, Yard House and P.F. Changs, among others.

Michael Leggett, Andrew Harper, Will Poulsen and Patrick Church with JLL Capital Markets represented the seller in the transaction.

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