Company Sells Significant Old Pasadena Property It Has Owned Since 1874

A historic 12,744-square-foot retail and office building located at the corner of Arroyo Parkway and Colorado Blvd. in Old Pasadena has sold for $8 million.

The sale marks the end of nearly a century and a half of continuous ownership by G&C Frost Company, based in Westlake Village, which had owned the land since 1874.

According to real estate brokers CBRE, the property at 130 E. Colorado Blvd. sits on a 0.53-acre lot and features 46 surface parking spaces and over 60 feet of frontage on the iconic Rose Parade route.

Developed in 1952 and renovated in 2011, the two-story building was previously occupied by Chase Bank and various financial institutions. 

CBRE arranged the sale, with Kyle Barratt representing the seller in the transaction. 

“For the first time on the market in over 150 years, this property presented a generational opportunity for investors seeking prime, Old Town Pasadena real estate,” said Barratt. 

“While the floor plan presented challenges, we were able to attract multiple offers from owner/occupiers and investors, and ultimately selected a buyer with a creative plan to revitalize this iconic building.”

The buyer, DFTC, Inc., plans to revitalize the property.

CBRE Group, Inc., a Dallas-based Fortune 500 and S&P 500 company, has approximately 115,000 employees serving clients in over 100 countries.