Greenbridge Investment Partners, a Los Angeles-based commercial real estate investment firm, has announced that it has leased more than 75% of 525 Colorado, the historic Pasadena Star-News building located at 525 E. Colorado Blvd. in downtown Pasadena. The announcement comes ahead of the building’s ground floor tenant and local breakfast burrito chain, Wake and Late, reporting that they will open this spring.
“We have seen growing demand for in-person dining in Pasadena come back with strength,” said Sean Hashem, Principal of Greenbridge Investment Partners. “525 Colorado has shown clear signs to emerge as a key player in the continuously growing local dining and retail market, due to the success our tenants have experienced over the past year.”
The approximately 84,000 square-foot landmark building has proven ideal for retail tenants, given its location in the center of Pasadena’s financial district which yields consistent street visibility and foot traffic, including with the neighboring Pasadena Playhouse, Pasadena Civic Center, Paseo Colorado and other area restaurant destinations. The structure has also proven to be a desirable delivery headquarters, with the popular Los Angeles-based gourmet cookie delivery company and tenant Last Crumb, moving into the fourth floor early last year.
Previously the home to the Le Cordon Bleu College of Culinary Arts, the space offers plenty of opportunity for both retail and restaurant opportunities. Boasting stunning exterior and interior architecture that dates back to 1925, the property has retained much of the original design, including incomparable terracotta stonework, ceilings and large open spaces. The building, designed by American architect Joseph Blick, is attracting interest in the currently vacant second, third and penthouse floors of the building.
525 Colorado reiterates Greenbridge Investment Partners’ founding mission of identifying underachieving properties and transforming them into “best in class” assets. The company’s portfolio is present both locally and nationwide, with recent leasing achievements including the Seattle Design Center and Six25 Fair Oaks, an office property in South Pasadena.