General Motors plans to open a $71 million design and technology center at a three-building Pasadena campus purchased earlier this month.
The automaker paid $49.5 million for the eight-acre property, according to Urbanize. The three buildings total about 150,000 square feet sandwiched between Sierra Madre Villa Avenue and N. Rosemead Boulevard.
The largest of the three buildings at 600 Sierra Madre Villa Avenue totals about 105,000 square feet. The building at 565 N. Rosemead Boulevard totals about 21,500 square feet and the third building at 580 Sierra Madre Villa Avenue totals about 20,100 square feet.
GM will relocate its Advanced Design Center outfit — currently located in a smaller North Hollywood facility — to the Pasadena campus.
The design center among other things is tasked with developing new technology, including new emissions and safety tech. It also develops concept and show cars.
The city anticipates GM will “spend considerable capital on modifications to the buildings for their intended uses,” Pasadena Economic Development Manager Eric Duyshart said in a statement, according to Pasadena Now.
The campus is set to open in the second half of 2022. GM’s North Hollywood Advanced Design Center will remain active until then.
LPC West and Angelo Gordon recently purchased https://therealdeal.com/la/2021/07/12/lpc-west-angelo-gordon-pay-73m-for-office-complex/ an office campus next door to the future GM campus with plans to turn it into a “predominately life sciences center.”
The partners signed biopharmaceutical company Xencor Inc. to a 148,000-square-foot anchor lease.
[Urbanize] [Pasadena Now] — Dennis Lynch