Description

Jones Lang LaSalle Americas, Inc. (“JLL”), as exclusive advisor, is pleased to present the rare opportunity to acquire the fee simple interest in 595 E Colorado Boulevard (the “Property”), a 101,536 square foot historic mixed-use asset located in the heart of the Playhouse Village District of Pasadena. Currently 100% leased with a 6.7-year WALT, the Property represents one of the most stable office investments in the Pasadena market.

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Caractéristiques de l'actif

Surface de l'actif Net

9 433 m²

Occupation

100 %

Année de construction

1927

Média

Points clés d'investissement

Rare Historic Asset with Institutional Stability

100% leased mixed-use building with 6.7-year WALT and 91% average office historical occupancy over the last 10 years, significantly outperforming the Pasadena competitive set

Credit Secured Rent Roll

Nearly half of rental income secured by investment-grade credit or letters of credit, providing downside protection typically reserved for institutional-quality assets.

Anchor Tenant with Long-Term Commitment

Robbins Brothers, a Pasadena-based jeweler for over 70 years, recently signed a new long-term lease for a substantial portion of the property.

Strong Cash Flow Return Profile

The office tenants have demonstrated strong historic retention with an average of $1.60/SF on renewal TI’s over the last eight years.

Prime Pasadena Location

Colorado Boulevard frontage with Walk Score of 96 in the heart of the Playhouse Village District of Pasadena, the submarket’s most desirable commercial corridor with superior tenant retention and limited historic supply.