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301 N Lake Ave
Pasadena, CA 91101
Lake Corson · Office Property For Sale
Investment Highlights
- Copy link to download Offering Memorandum: https://bit.ly/301northlakeLN
- Diversified, High-Quality Tenant Base
- Irreplaceable Core, Transit-Oriented Location
Executive Summary
* Attractive Basis Below Replacement Cost | Rare opportunity to acquire a trophy office asset in a supply-constrained submarket at a meaningful discount to replacement cost.
* Durable & Resilient Rent Roll | The Property has maintained a historical occupancy of 87% since 2010. The Property has 33 tenants averaging 5,794 SF each with no tenant occupying more than 10% of the rent roll.
* Recent Leasing Momentum & Capital Investment | 18 new leases and renewals totaling 73,502 SF have been executed in the past three years, each supported by meaningful landlord and tenant capital investment.
* Diversified, High-Quality Tenant Base | Balanced tenancy across Consumer Products, Legal, Professional Services, and Financial Services.
* Clear NOI Growth Upside | Over $8.5 million invested by current ownership since 2019 in base building and key renovations. Future capital is expected to be NOI-accretive, focused on minimal tenant improvement allowances.
Property Facts
Amenities
- 24 Hour Access
- Banking
- Bus Line
- Conferencing Facility
- Courtyard
- Metro/Subway
- Property Manager on Site
- Energy Star Labeled
- Car Charging Station
- Plug & Play
Sustainability
Sustainability
ENERGY STAR® Energy Star is a program run by the U.S. Environmental Protection Agency (EPA) and U.S. Department of Energy (DOE) that promotes energy efficiency and provides simple, credible, and unbiased information that consumers and businesses rely on to make well-informed decisions. Thousands of industrial, commercial, utility, state, and local organizations partner with the EPA to deliver cost-saving energy efficiency solutions that protect the climate while improving air quality and protecting public health. The Energy Star score compares a building’s energy performance to similar buildings nationwide and accounts for differences in operating conditions, regional weather data, and other important considerations. Certification is given on an annual basis, so a building must maintain its high performance to be certified year to year. To be eligible for Energy Star certification, a building must earn a score of 75 or higher on EPA’s 1 – 100 scale, indicating that it performs better than at least 75 percent of similar buildings nationwide. This 1 – 100 Energy Star score is based on the actual, measured energy use of a building and is calculated within EPA’s Energy Star Portfolio Manager tool.
Property Taxes
| Parcel Number | 5723-010-058 | Improvements Assessment | $78,309,437 |
| Land Assessment | $13,163,122 | Total Assessment | $91,472,559 |
Property Taxes
