Greenbridge Investment Partners pays $31M for Pasadena office building

The sellers, Gentom Cockrum Partners, recently renovated the property

Los Angeles /
Jun.June 06, 2018 01:22 PM
625 Fair Oaks Ave with Greenbridge principals Sean Hashem and Fareed Kanani

Two months after listing the former Pasadena Star News building for sale, Beverly Hills-based Greenbridge Investment Group has paid $31 million to acquire a nearby office property.

Genton Cockrum Partners, a privately held real estate firm based in West Hollywood, sold the three-story building, named Six25 Fair Oaks, after acquiring it for $20 million in August 2014, property records show.

The firm is also developing the Four Seasons Private Residences Los Angeles, which will be topped off with a “paparazzi-proof” penthouse asking $50 million.

Located at 625 Fair Oaks Avenue in South Pasadena, the property spans just under 93,000 square feet. When it hit the market in November it was already 70 percent leased, with tenants ranging from technology, design and creative industries.

Chalvis Evans of CBRE brokered the sale.

Greenbridge Investment, led by Sean Hashem and Fareed Kanani, will be joining Coretrust Capital and ACCO Engineered Systems in Pasadena, both of which recently acquired office campuses for $260 million and $112 million, respectively.

The recent sales may have prompted some longtime investors to put their properties on the market. Last month, Fuller Theological Seminary listed its 13-acre campus for sale without an asking price. Meanwhile, Greenbridge Investment put the former Pasadena Star News Building on Colorado Street on the market for $50 million.


Related Articles

arrow_forward_ios
The future of San Francisco’s Oceanwide Center is up in the air again (Getty, Foster and Partners)

Contractors pull out as Oceanwide Center sale falls through again

Contractors pull out as Oceanwide Center sale falls through again
Rendering of the project and Regency Park President Emil Fish (City of Pasadena)

Senior living developer upsizes Pasadena project

Senior living developer upsizes Pasadena project
Daniel Taban and a rendering of the project (City of Pasadena)

Jade Enterprises eyes major multifamily project in Pasadena

Jade Enterprises eyes major multifamily project in Pasadena
Granite CEO Michael Dardick and Industrious CEO Jamie Hodari

Industrious partners with landlords to offer tenants satellite workplaces

Industrious partners with landlords to offer tenants satellite workplaces
Jeffrey Jaeger and the Villa Raymond Apartments (Google Maps)

Standard Companies buys Pasadena senior housing, plans fix-up

Standard Companies buys Pasadena senior housing, plans fix-up
Colorado Campus at 2041-2115 Colorado Avenue and Northwestern Mutual CEO John E. Schlifske

Northwestern Mutual picks up Santa Monica office campus for $166M

Northwestern Mutual picks up Santa Monica office campus for $166M
Thomas F. Rosenbaum, Caltech President, and a rendering of the project

Caltech wants to build 80K sf mass timber research lab

Caltech wants to build 80K sf mass timber research lab
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...