Another tech firm signs big office lease in Pasadena

Gemalto Cogent inked a deal for 54K sf, after GM Cruise signed last month

TRD LOS ANGELES /
Mar.March 28, 2019 12:00 PM
Gemalto Cogent CEO Philippe Vallée and 3100 New York Drive

Biometrics firm Gemalto Cogent Inc. has signed a $14 million lease for a Pasadena office building, expanding from its previous headquarters nearby.

The company inked the deal with Graymark Capital and Blue Vista Capital Management, according to the Los Angeles Business Journal.

The 54,800-square-foot lease accounts for about a third of the space at 3100 New York Drive, and includes signage on the building, the Journal reported. CBRE represented both parties. Kevin Duffy and Bennett Robinson advised Gemalto Cogent, while Natalie Bazarevitsch and Jackie Benavidez advised Graymark and Blue Vista.

Gemalto specializes in biometric software and hardware, including fingerprint and iris scanners. The firm will move from its nearby office at 600 N. Sierra Madre Villa Avenue.

It’s the second big tech lease in Pasadena this year. Last month, the driverless car company GM Cruise signed a seven-year, $11.4 million lease for 47,000 square feet at EverWest Real Estate Partner’s 465 North Halstead Street.

Graymark and Blue Vista, meanwhile, purchased the New York Drive building for $16.3 million in mid-2016, a day before foreclosure by a special servicer, according to Graymark. It was 60 percent leased at the time.

The partners extended a lease with women’s clothing retailer Max Studio and undertook extensive interior and exterior renovations, repositioning the remaining square footage as creative office and R&D space to capture Pasadena’s strong pool of technology and science companies. [LABJ]Dennis Lynch 


Related Articles

arrow_forward_ios
From left: Brian Hecktman, founder and CEO of Graymark Capital and Lone Star Funds founder John P. Grayken with the building

Graymark Capital buys big Pasadena office complex in R&D hub

Justin Stewart, president and co-founder of Industrious

Co-working firm Industrious grows its reach to Pasadena

A rednering of the project and EF CEO Edward Hult (Credit: The City of Pasadena)

Private boarding school approved for Gensler-designed student housing complex in Pasadena

Regency Park Senior Living President Emil Fish

Senior living developer proposes new Pasadena complex

James Li and 141 South Lake Avenue (Credit: Google Maps)

Pasadena portfolio: Developer plans 3rd resi complex in the city

From left: Saeed Nourmand, Michael Nourmand, Grant King and Richard Heyman

Relevant Group sues Nourmand & Associates’ founder, alleging extortion over hotel projects

Centennial founder and CEO Steven Levin with a rendering of the project

Centennial Real Estate approved for sprawling $300M mixed-use village

Apartment complex at 1435 Stanley Avenue and Raintree Partners CEO Jeffrey Allen (Credit: Apartment Finder)

Raintree Partners spends $79M on Glendale multifamily portfolio

arrow_forward_ios