Pasadena Tech Center Sells for $30 Million

Published : Thursday, August 22, 2019 | 2:09 PM

Graymark Capital Inc. and Eightfold Real Estate Capital have purchased the Eaton Canyon Tech Center, a nearly 219,000-square-foot office campus in Pasadena, for $30 million, a report in the Los Angeles Business Journal Thursday said.

Eaton Canyon Tech Center, located at 2947 Bradley Street in Pasadena, has two buildings that house office space and research facilities. It is 58-percent leased out to tenants, among them Fidelity National and Cogent Communications.

The report said HFF’s Andrew Harper and Matt McRoskey represented the seller, Hudson Americas. Graymark was self-represented.

“We are attracted by the strong demographics and opportunity to enhance value through renovation and leasing,” Jeff Hoppen, chief executive at Graymark, said in a statement.

Graymark said they will update the property’s exterior, enhance the amenity space and create more creative interiors.

It is Graymark’s second purchase in Pasadena. In September 2016, the company purchased a 164,101 square-foot creative office and R&D property, at 3100 New York Drive, for $16.3 million. The building is headquarters to Leon Max, Inc, a women’s luxury fashion brand.

 

 

 

 

 

 

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