Historic Old Town Pasadena Mixed-Use Has New Owner with New Plan
CBRE arranged the $8-million sale of a 12,744-square-foot retail/office building located at 130 E. Colorado Blvd. in Old Town Pasadena to DFTC, Inc. The firm’s Kyle Barratt represented the seller, G&C Frost Company.
The two-story building, which was developed in 1952 and renovated in 2011, was previously occupied by various financial institutions. Situated on 0.53 acres the property features 46 surface parking spaces and more than 60 feet of frontage along the Rose Parade route. The seller has owned the land since 1874.
“For the first time on the market in over 150 years, this property presented a generational opportunity for investors seeking prime, Old Town Pasadena real estate,” said Barratt. “While the floorplan presented challenges, we were able to attract multiple offers from owner/occupiers and investors, and ultimately selected a buyer with a creative plan to revitalize this iconic building.”
Old Town Pasadena is Pasadena’s urban core and the financial, retail and government center. The area offers a mix of uses and walkable areas with shopping, entertainment, restaurants, offices, and housing connected by multiple modes of transit.
