Private wealth management firm Shuster Advisory Group LLC has officially relocated its headquarters within Pasadena after signing a long-term lease agreement for a 9,000-square-foot office space on the ninth floor of NOLA 155.
The 11-story office complex, located at 155 North Lake Ave., resides in Pasadena’s Lake Avenue business district. According to Shuster, which manages a diverse portfolio exceeding $7 billion in assets, this new space allows for greater collaboration.
“Our new location in Pasadena will allow us to collaborate more effectively across our organization,” Mark Shuster, founder of Shuster Advisory Group, said. “The NOLA 155 building fit our requirement for our new headquarters as offered a move-in ready space that will be customized to our specifications.”
Savills Inc.’s executive managing director Andrew Lustgarten and vice chair Mike Catalano advised Shuster in the lease negotiations.
“There is sufficient amount of office space available in Pasadena, but limited opportunity in a Class A building that offers both efficient floorplates and natural light,” Catalano said. “NOLA 155 provides Shuster a rare opportunity to be located on a high floor of a superior building that delivers great views and abundant light and air.”
The firm was previously located at 225 S Lake Avenue, home to the Pasarroyo office building which headed into foreclosure late last year.
“Shuster Advisory Group was seeking a new location for its headquarters that offered a more open work environment with natural light and areas for collaboration,” Lustgarten added. “After completing a market analysis, we centered on an opportunity at the NOLA 155 building that will provide Shuster with a modern layout with a mix of communal areas and private offices. We were able to leverage current market conditions to confirm a build-to-suit that will allow Shuster to save on capital by minimizing construction costs.”
Swift Real Estate Partners, which owns NOLA 155, was represented by Doug Marlow of CBRE Group Inc. in the lease.
The property is near the Paseo Colorado, the 210, 110 and 134 freeways and several airports. Shuster plans to move this fall. The exact terms of the lease were not disclosed.
