Retail Center in North Pasadena Sells for $13.4 Million

Shops on Hill LLC, controlled by Los Angeles-based Engine Real Estate, has acquired a mixed-use retail center on the intersection of E. Washington Blvd. and N. Hill Avenue in Pasadena for $13.4 million. The property includes two buildings on opposite sides of the intersection.

A report on the San Gabriel Valley Tribune said the center now includes 32,685 square feet of space, with one building housing 12 apartments on the second floor and retail shops below, and the other single-story building housing retail stores.

Among the current tenants in the center are Domino’s Pizza, Ray’s Electronics, the Lavender and Honey coffee shop, Lark Cake Shop and Culture Club 101, among others.

Engine Real Estate president David Walker one 2,400 square foot corner retail space on the property is particularly attractive and could be used as a restaurant.

Ken McLeod, Alex Vasquez and Tim Kuruzar of CBRE Group Inc. represented both Shops on Hill and seller Greenbridge Investment Partners Inc. in the transaction.