PASADENA, Calif. – Coldwell Banker Commercial Realty is pleased to have represented both the seller and buyer in the sale of 1155 East Colorado Boulevard, a freestanding 21,450 square foot building located in Pasadena, CA in a transaction valued at $9.4 million.
This 100% Single Tenant Net Leased (STNL) investment property occupies two contiguous parcels on approximately 0.92 acres. It is positioned on a signalized corner along the well-known Colorado Boulevard Rose Parade corridor in Pasadena. The building is occupied by Michaels, a NNN National Credit Tenant, who has a long-term lease in place. This prime property was listed at $9,488,000, and the buyer acquired fee simple ownership of the STNL asset.
“This property has tremendous value, being located along Colorado Boulevard (Historic Route 66), one of the busiest thoroughfares in Pasadena. It offers convenient ingress/egress, large street frontage and abundant on-site parking. The property is zoned for mixed-use or multifamily, which gives the asset outstanding development potential,” said Ukropina.
The listing team consisted of brokerage professional Bill Ukropina, Robert Ip, Kathi Constanzo and Alex Banks. They represented Colomar Partnership. Ukropina managed the Selling Side and Constanzo managed the buying side of the transaction.
About Coldwell Banker Commercial Affiliates
Coldwell Banker Commercial Realty, an affiliate of Coldwell Banker Commercial®, provides commercial real estate solutions serving the needs of owners and occupiers in the leasing, acquisition and disposition of all property types. With a collaborative network of independently owned and operated affiliates, the Coldwell Banker Commercial organization comprises almost 200 companies and more than 3,000 professionals throughout the U.S. and internationally.