301 North Lake Avenue Pasadena, CA
CALL FOR OFFERS - APRIL 30th | Class A Trophy Office Tower For Sale in Pasadena, CA
Marketing description
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►Diversified, High-Quality Tenant Base | Balanced tenancy across Consumer Products, Legal, Professional Services, and Financial Services.
►Clear NOI Growth Upside | Over $8.5 million invested by current ownership since 2019 in base building and key renovations. Future capital is expected to be NOI-accretive, focused on minimal tenant improvement allowances.
Investment highlights
►Irreplaceable Core, Transit-Oriented Location | Premier Lake Avenue address adjacent to the Metro A Line and immediate access to the 210 Freeway, surrounded by Pasadena’s top amenities, executive neighborhoods, and the Lake Avenue Shopping and Playhouse Districts.
►Attractive Basis Below Replacement Cost | Rare opportunity to acquire a trophy office asset in a supply-constrained submarket at a meaningful discount to replacement cost.
►Durable & Resilient Rent Roll | The Property has maintained a historical occupancy of 87% since 2010. The Property has 33 tenants averaging 5,794 SF each with no tenant occupying more than 10% of the rent roll.
►Recent Leasing Momentum & Capital Investment | 18 new leases and renewals totaling 73,502 SF have been executed in the past three years, each supported by meaningful landlord and tenant capital investment.
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