Lee & Associates closes $7.1 million retail sale in Pasadena Playhouse Village

June 15, 2023 (Pasadena, CA)

865 E Colorado Blvd. Pasadena CA 91101

Lee & Associates, the largest broker-owned commercial real estate firm in North America, announced the successful closing of 865 E. Colorado Blvd. in Pasadena, CA. Principals from Lee & Associates – West LA Robert Clifford and Vaun Lennon and Lee & Associates – Pasadena Colleen Carey and Jodi Shoemake represented the seller, KSO Pasadena, LLC, while Sean Fang, also from the Lee & Associates – Pasadena represented the buyer.

Situated at the Northwest corner of Lake Avenue and Colorado Boulevard, this retail building was vacant at the time of sale and under-utilized at this prominent intersection.  The Lee & Associates brokers presented a proposal to maximize the building’s use and now, significant improvements are underway to transform this former retail space into attractive restaurant use.  Lee & Associates – Pasadena will assist in leasing the space to a popular dining establishment in the near future.

At approximately 10,039 square feet, this retail building features a 24′ bow truss ceiling, basement and mezzanine and will benefit from the zoning changes to the CD-5 Specific Plan currently awaiting approval from the City of Pasadena.

Located in the Playhouse Village district in Pasadena, this property along with its future user, will thrive given the future improvements to landscape and streetscape included in the CD-5 Specific Plan, proximity to transit-friendly services, high walkability scores, cultural landmarks and attractive shopping and dining options on South Lake Avenue.

Published Press Articles:
Pasadena Now

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ABOUT LEE & ASSOCIATES
Lee & Associates – Pasadena is a full service commercial real estate company headquartered in Pasadena, CA. Our client-focused brokers specialize in office, retail, tenant advisory, multifamily, and investment sales. As the fastest-growing broker-owned firm in the nation, with more than 60 office locations in North America, we are uniquely qualified to support our clients’ real estate needs in the local, national and international markets. For more information, visit lee-pasadena.com.

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