East Pasadena Office Complex Sells for $78M

Pasadena Corporate Park, a three-building office complex containing 260,000 square feet at 250 North Halstead Street and 3475 East Foothill Blvd. in Pasadena, has been sold for a gross sales price of $78 million, the seller, Columbia Property Trust Inc., announced Tuesday.

Among the major tenants in the complex are environmental consulting and engineering firm Tetra Tech and technology banking firm Green Dot Corporation.

Just last year, Columbia secured a 65-month renewal with Tetra Tech for 61,000 square feet on the property for the firm’s headquarters, according to a report by real estate news publisher Commercial Observer.

The complex was built in 1961 and underwent a major renovation from 1999 to 2001, Columbia said on its website.

Columbia Property Trust declined to reveal the identity of the buyer. The report said Columbia took a loss, having acquired the property in 2007 for $116 million from IndyMac Bank, which went defunct shortly after and was succeeded by Pasadena-based OneWest Bank.

Pasadena Corporate Park is 94 percent leased, Columbia Property’s website showed.