Another tech firm signs big office lease in Pasadena

Gemalto Cogent inked a deal for 54K sf, after GM Cruise signed last month
March 28, 2019 12:00PM

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