Project Description

STAR NEWS BUILDING | 525 E COLORADO BLVD | PASADENA | CA

February 4, 2014: 2 Properties sold – Star News Building and Parking Structure. Many suites feature beautiful views and floor to ceiling windows. Reserved tandem parking available at $200.00. Cleaning service five days per week. All three elevators service the garage; one elevator also serves as a freight elevator. The property closed on February 4, 2014 for a sale price of $16,550,000 by the Seller (private individual) to the Buyer, Greenbridge Management Company. The property is located on the Tournament of Roses parade route along Colorado Blvd., and is proximate to Pasadena’s Central Business District and benefits from a host of local amenities that include Paseo Colorado, a popular retail/entertainment center. The cap rate was reported at 6.6%; therefore, we were able to calculate the NOI. Walking distance to many shops, restaurants and financial institutions