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Historic Pottery Barn Building in Pasadena Sold in a Deal Valued at $519/sf

5/07/20

A private investor purchased the historic Pottery Barn building in Pasadena’s popular Old Town area for $16.1 mil. The five-story, 31k sf ($519/sf) building is located at the intersection of Colorado Blvd and Fair Oaks Ave, along one of the most high-profile retail streets in Southern California.

Originally constructed in 1905 and renovated in 1997, the building is leased to Pottery Barn on three levels (the basement, ground floor and second level) with two floors of residential units and one floor of office space leased to other tenants. Pottery Barn has been at this high-identity location for over 20 years and, last year, executed a new lease extension.

Carlos Lopez and Lee Csenar with Hanley Investment Group Real Estate Advisors represented the seller, Federal Realty Investment Trust. Rob Ippolito, Glenn Rudy and Pete Bethea of Newmark Night Frank Capital Markets repped the buyer in the deal.

“This is a generational acquisition for an iconic property located at the premier intersection in Pasadena to a Southern California-based investor,” noted Lopez.




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