Colorado Boulevard Building Sells for $2.9 Million

The building at 493-497 E. Colorado Blvd. in Pasadena has been sold for more than the asking price, according to Corey Harper of Coldwell Banker Commercial, who represented the seller.

“Yes, we sold the building for $2.9 million to an owner/user that will be operating their antique shop (Royal Antiques),” Harper said. “They are doing renovations at this time.”

The new owners – Arash (Anthony) Akmal and Helia Samadi – are the husband-and-wife team that operates Royal Antiques, located at 446 S. Fair Oaks Ave. in Pasadena.

Harper said the new owners purchased the property from Bob and Arlene Oltman, the former owners and operators of the Pasadena Museum of California Art.

The property was listed on LoopNet.com as a retail-type Class C building with 8,998 square feet of gross leasable area, on a 0.13-acre lot.
It was built in 1949, according to the listing.
Currently, Messerian Oriental Rugs is leasing 3,248 square feet of the space, with the lease ending in March 2023.