DivcoWest and Edgewood Realty Partners closed on the purchase of Pasadena Business Center, a 239k SF office building at 465 N Halstead St in, take a guess, Pasadena. While it's the real estate investment company's first Pasadena acquisition, it's a typical Divco deal: large building that's under-marketed and under-occupied to reposition and lease up. The tech-focused firm likes neighborhoods with a highly educated workforce, and there's no shortage of brainiacs nearby--the building is close to JPL and CalTech. With 130k SF available, Divco plans upgrades to appeal to tenants looking for creative office space with efficient floorplates.
DivcoWest's Pasadena Debut
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