In Pasadena’s largest lease deal this year, digital forensics and cybersecurity firm Guidance Software Inc. is consolidating its operations into a larger headquarters space.

The firm signed a lease of nearly 11 years for 86,790 square feet at 1055 E. Colorado Blvd. The deal with landlord Piedmont Office Realty Trust Inc. of Atlanta is valued at more than $28 million.

Guidance, which plans to move into the space in August, will receive building-top signage.

The company is known for its popular EnCase software, which is used by corporations and law enforcement authorities to conduct everything from intellectual theft investigations to compliance auditing.

Guidance is leaving its headquarters at 215 Marengo Ave. and offices at 245 S. Los Robles, where it occupied a total of about 70,000 square feet. The company plans to use the additional space as it grows.

Its new 1055 E. Colorado offices were vacated last year by Paracel Inc., a firm mapping the human genome. The Guidance lease, signed in July, brings the building up to 100 percent occupancy.

Kevin Duffy, at CBRE Group Inc., who represented the landlord, said Guidance was attracted to the building’s large floor plates and ample space for growth. He added the deal reflects an improving Pasadena market.

Patrick Church and Anneke Greco at CBRE also represented the landlord. Carlo Brignardello at Cresa represented the tenant.

Koreatown Fixer-Uppers

A three-property, 59-unit apartment portfolio in Koreatown has traded hands for $6.6 million.

Lion Real Estate Group LLC in Santa Monica bought the portfolio in June and July in an off-market transaction from an L.A. family, which decided to sell it in order to purchase a single-tenant commercial property elsewhere.

The Koreatown portfolio, a little over 90 percent occupied, comprises buildings at 410 and 501 Mariposa Ave. and 410 S. Alexandria Ave., all of which were built during the middle of last century and have not been significantly updated. Residences range from studios to two bedrooms, with most one-bedroom units. Monthly rents average about $950.

Jeff Weller, managing principal of Lion, said that the properties were attractive because of their location and relatively low sales price. They sold for about $140 a square foot; nearby comparable buildings have traded for closer to $170 a square foot.

Lion plans to upgrade the kitchen and bathrooms, and put in laminate hardwood floors, as well as add landscaping and exterior signage. Those improvements should be completed within two months.

Prev

For reprint and licensing requests for this article, CLICK HERE.