Gone are the days of huge government contracts that provided jobs for the masses in the Los Angeles basin. Like McDonnell Douglas in Long Beach, Jet Propulsion Laboratories has been a landmark in Pasadena since 1957, when it first moved into its 7-acre campus-style facility associated with the California Institute of Technology. JPL, which at its height occupied more than 300,000 square feet in Pasadena, now outsources many of its contracts. The buildings were sold together as part of three portfolios. The first portfolio consisted of The Colorado Buildings at 2555 and 2505-2525 East Colorado, 12 Altadena, and 40 Altadena. The second part involved 2500-2570 Foothill Blvd. The third portion of the portfolio consisted of 133, 145, and 171 Altadena. Totaling approximately 280,000 square feet, the properties sold to a private investor this month for $24 million, around $86 per square foot. The buildings underwent renovations last year, which boosted the occupancy rates from 62% to 85% leased. Pasadena is seeing a resurgence in growth from the many medical and financial firms that have leased space in the area and retailers taking many of the smaller spaces. The seller of the facilities was an old Pasadena family that had originally purchased and developed the property for JPL back in 1957. R. Scott Martin of Charles Dunn Co. represented the seller. Mark Brunner of Matlow Kennedy represented the buyer, Pasadena Business Park LLC.