The Pick of Pasadena
Up north in Pasadena, local player Paragon Real Estate Fund has plucked a plum property for $10.8M: the ground-floor retail condo at Retail @ Pasadena Collection, a mixed-use development with 110 luxury units. The condo contains 20k-plus SF of retail space, leased to tenants like Vitamin Shoppe, National University, Sharky's Woodfired Mexican Grill, and T-Mobile. (If the burrito is good, you can head next door and call your friends.) Hanley Investment Urban Retail Advisors' Carlos Lopez, who repped both sides with Lee Csenar, tells us the property is located in the city's trendy South Lake Avenue retail district, which boasts extremely low vacancies; 100% of the tenants have renewed or extended their leases since 2010, he says.