Pasadena Offices Sell for Residential Conversion
NAI Capital Commercial EVPs John S. Archibald and Guillermo Olaiz, alongside senior associate Stephen Lam of the Investment Services Group in the Pasadena office, represented the seller, Star Horizon, LLC, in the sale of ZK Plaza, a 41,586-square-foot office building in Pasadena. The property sold for $13,400,000, representing a 3.5% premium over asking.
Located at 600 N. Rosemead Blvd., ZK Plaza occupies a 2.12-acre site in East Pasadena, directly across from General Motors’ advanced design center. Originally built in 1966, the two-story office building was expanded in 1989 and renovated in 2011.
Elysian Housing, LLC, plans to redevelop the site into a 133-unit affordable housing community, adaptively reusing the existing office building for 51 units and constructing a new five-story building with 82 units.
Archibald said, “This transaction highlights the opportunities for well-located properties in established Southern California markets. ZK Plaza’s location in East Pasadena, near major employers and transportation, offers significant potential for its next chapter.”
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout