A two-building office complex in Pasadena has sold to a new owner at a steep discount from its value less than a decade ago. Harbor Associates and The Roxborough Group plunked down $120 million for the Pasadena Towers, Commercial Observer reported. The deal for 477,101 square feet of offices works out to about $252 per square foot. CBRE Investment Management acquired the property in 2016 for $256 million, or about $537 per square foot, per CO. Pasadena Towers consists of two Class A office buildings at 55 South Lake Avenue and 800 East Colorado Boulevard linked by a courtyard. The […]
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