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Investors Purchase Pasadena Tower

Nine-Story Property Sells For $22 Million
By Raoul Padilla
September 25, 2002 | 1:39 P.M.

Sherman Oaks Capital LLC acquired the Class-A Pasadena Office Tower at 150 South Los Robles Ave. in Pasadena, CA. Built in 1971, the 138,790-square-foot property was more than 95 percent leased at the time of the sale. The sale was valued at $22.3 million or $161 per square foot with an 8.75 percent cap rate. The buyer represented itself in the transaction. Marc Renard of Cushman & Wakefield represented the seller, The Shidler Group of San Diego. By: Raoul Padilla & Cesar De Luis

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