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8/23/21
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A 5.6k sf, storefront retail property in Pasadena sold for $3.25 mil, or $580/sf. The buyer was Saber Vertex 980 Corporate Center Drive LLC.
The property is located at 34 E Holly St, in a highly sought after prime commercial trade area, between Fair Oaks Ave on the west and N Raymond Ave on the east in Old Pasadena’s Historic District. With 55 feet of street frontage, situated at mid-block, this storefront retail property has excellent visibility. The storefront is in a vibrant walking area and tourist destination with a Walk Score of 97, a Bike Score of 96, minutes from the Gold Line at Memorial Park Station, and only a short block away from the 210, 134, and 110 freeways.
The seller owned this asset for more than 25 years. One of the building’s three retail units was delivered vacant at the close of escrow. The new owner plans to lease the vacant unit and hold the asset as long term investment.
Ana Soulriver and R. Scott Martin, SIOR, with NAI Capital Commercial’s Investment Services Group represented the seller, a private investor, in the transaction.
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