Published : Friday, November 15, 2019 | 5:53 AM
Well-known to locals, an Art Deco commercial retail and office building in the heart of Old Pasadena has been sold to Arcadia-based real estate company, Huikang Realty & Investment LLC, for $12.55 million.
The property at 26 E. Colorado Blvd. is home to a Vans shoe store, retailer Lush Cosmetics and wine tasting room Le Cellar, is about 9,000 square feet of ground floor retail space with offices on the second story, according to a news release.
While some portions of the structure date from 1887, almost all of the recognizable elements of the building are from the 1929 Art Deco construction.
The sale was orchestrated by Los Angeles-based real estate services company CBRE and Temple City-based Treelane Realty Group. The two companies represented both the buyers and sellers in the transaction, it says.
“This property sits in a globally recognized, high-barriers-to-entry location that is transit oriented” in a highly walkable location, CBRE Senior Vice President Randall Brown said in the statement.
According to a CBRE spokeswoman, the buyer views the property as a “long-term investment and is planning to conduct various improvements at the site.”