CBRE Facilitates $8 Million Sale of a Historic Property in Old Town Pasadena

CBRE has arranged the $8 million sale of a 12,744 sq. ft. retail/office building located at 130 E. Colorado Blvd. in Old Town Pasadena, Calif. to DFTC, Inc.

CBRE’s Kyle Barratt represented the seller, G&C Frost Company, in the transaction.

The two-story building, which was developed in 1952 and renovated in 2011, was previously occupied by various financial institutions. Situated on 0.53 acres the property features 46 surface parking spaces and over 60 feet of frontage on the iconic Rose Parade route. The seller has owned the land since 1874.

“For the first time on the market in over 150 years, this property presented a generational opportunity for investors seeking prime, Old Town Pasadena real estate,” said Mr. Barratt. “While the floorplan presented challenges, we were able to attract multiple offers from owner/occupiers and investors, and ultimately selected a buyer with a creative plan to revitalize this iconic building.”

Old Town Pasadena is the City’s urban core and the financial, retail and government center. The area is a vibrant downtown with a mix of uses and walkable areas with shopping, entertainment, restaurants, offices, and housing connected by multiple modes of transit.