Los Angeles – Jan. 6, 2022 – CBRE announced that Pasaca Capital, a private investment company focused on technology innovation, leased 26,184 square feet at The Pasadena Towers in Pasadena, Calif.
CBRE’s Hunter Brown, Jake Bobek and Scott Steuber represented the tenant in the 10-year lease. The landlord, CBRE Investment Management, was represented by CBRE Kevin Duffy, Natalie Bazarevitsch, Doug Marlow, Jackie Benavidez and Juliana Sampson.
Pasaca Capital took the top floor at Tower 1 at Pasadena Towers, located at 800 E Colorado Blvd. in Old Town Pasadena. Pasaca Capital is the parent company of Innova Medical Group, Inc. which currently occupies 15,204 square feet in the same building. This latest lease brings Pasaca’s Pasadena Towers footprint to 41,388 square feet.
“Pasaca’s business lines continue to thrive and grow at a rapid rate, which inspired the need for the additional space,” said Hunter. “CBRE was excited to help Pasaca during an incredible period of growth. Helping them secure this top floor was important as their medical business lines continue to thrive and grow their respective teams.”
The CBRE team also just completed another lease in Pasadena for Narrative Ads, a provider for social creative for the world’s leading performance marketers.
Gaming, tech, and creative sectors kept Los Angeles leasing activity afloat in the third quarter of this year, according to CBRE research. Greater Los Angeles experienced negative net absorption in Q3 of 36,315 square feet, but a marked improvement from the average 2 million square feet of negative net absorption seen each quarter from Q2 2020 through Q1 2021.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE: CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2020 revenue). The company has more than 100,000 employees serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services.
