|
|
5/31/21
|
A 10.2k sf retail property in Pasadena sold for $5 mil, or $490/sf. The property is located at 400 S. Fair Oaks on the northeast corner of S. Fair Oaks Ave and E. Bellevue Drive. The site features over 450 feet of combined street facing frontage.
Built in 1962, the property consists of two structures on a 25.8k sf lot. The property is in a densely populated and affluent trade area with 212,867 people living within 3-mile radius and an average household income of $107,402. The new owner plans to redevelop the property.
John S. Archibald and Guillermo Olaiz with NAI Capital Commercial represented the seller, a trust, and seller, a family trust, in the transaction. According to Olaiz, the purchase provides a great opportunity for repositioning this trophy property within the city of Pasadena’s proposed Arts and Innovation District.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
