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Wednesday, Dec 6, 2023

South Pasadena Office Building Sells for $30.7 Million

Genton Cockrum Partners, a West Hollywood-based developer, has sold a three-story, 92,500-square-foot office building at 625 Fair Oaks Ave. in South Pasadena for $30.7 million, or about $332 per square foot, with a 4.3 cap, to GreenBridge Investment Partners, a Beverly Hills-based commercial firm, sources said.

Chalvis Evans, a senior vice president at CBRE Group Inc., represented both sides in the transaction.

The building, which was built in 1987, is about 70 percent leased, according to sources.

The property once housed medical offices, but was renovated to a creative office space to appeal to design and technology tenants.

Genton purchased the property in 2014 for $20 million.

Real estate reporter Ciaran McEvoy can be reached at cmcevoy@labusinessjournal.com or (323) 556-8337.

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