Another Pasadena office building has traded hands for significantly less than its previous sale price. State Compensation Insurance Fund purchased 35 North Lake Avenue in Pasadena for approximately $33 million, L.A. Business First reported, citing a source close to the deal. Swift Real Estate Partners, which sold the building, acquired the 159,000-square-foot property in 2019 for roughly $58 million. At the time, Swift bought the building as part of a larger portfolio in Pasadena including 155 North Lake Avenue and 790 East Colorado Boulevard, which the San Francisco-based firm acquired for a total of $193 million. Swift will continue to […]
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