A company that creates social media advertising has leased 22,000 square feet at Pasadena Tech Center in East Pasadena near Eaton Canyon — its third Pasadena location — according to commercial real estate services and investment firm CBRE Group, Inc.
CBRE announced that Narrative Ads signed a five-year lease at 2923 Bradley Street for an undisclosed amount. CBRE’s Hunter Brown, Scott Steuber and Jake Bobek represented the tenant in the deal.
The building is owned by Graymark Capital. The property is a 218,983 square-foot creative office and R&D campus. The building features an extensive glass line, high ceilings, large floor plates and mature landscaping.
The campus is currently 70 percent leased to a roster of regional and national tenants, including Cogent Communications and Fidelity National Information Services. Graymark plans to complete the renovation of the exterior façade, common areas and amenities, according to CBRE.
“CBRE was excited to help Narrative Ads continue to thrive and grow in this new space in Pasadena,” said Brown. “It was important for Narrative and their team to find a creative space that can accommodate their rapid growth within an area of ample amenities for their employees. It was also important for Narrative to stay in Pasadena, given the area’s growing tech scene and abundant talent pool.”
This is the third office in Pasadena for Narrative Ads, a provider for social creative for the world’s leading performance marketers. The newest lease at the Pasadena Tech Center adds to the other two locations, which serve as additional studio and creative space, CBRE said in a statement.
Gaming, tech, and creative sectors kept Los Angeles leasing activity afloat in the third quarter of this year, according to CBRE research. Greater Los Angeles experienced negative net absorption in Q3 of 36,315 square feet, but a marked improvement from the average 2 million square feet of negative net absorption seen each quarter from Q2 2020 through Q1 2021.