{"id":1004113070,"date":"2015-02-08T20:31:16","date_gmt":"2015-02-09T04:31:16","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=323719"},"modified":"2022-12-07T21:51:43","modified_gmt":"2022-12-08T05:51:43","slug":"pasadena-office-asset-acquired-by-laurus-corporation-4","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/pasadena-office-asset-acquired-by-laurus-corporation-4\/","title":{"rendered":"Pasadena Office Asset Acquired by Laurus Corporation"},"content":{"rendered":"<p><em>By Alex Girda, Associate Editor<\/em><\/p>\n<p>A Pasadena office asset was recently picked up by private real estate investment and development firm Laurus Coporation. The company announced the acquisition of 199 South Los Robles, which marks an expansion of Laurus into the country\u2019s second largest office market. Pasadena is one of the best performing submarkets in Los Angeles, with the area being able to maintain a consistently low average vacancy rate over the past decade. Pasadena, along with Glendale and Burbank, is part of Tri-Cities market, one of the top three real estate markets in Los Angeles County.<\/p>\n<p>199 South Los Robles is a Class A of<a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/199-South-Los-Robles.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-323721\" title=\"199 South Los Robles\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/199-South-Los-Robles.jpg\" alt=\"\" width=\"300\" height=\"260\" \/><\/a>fice asset that offers 163.194 square feet of space. The eight-story property is located between the cross streets of Cordova and El Dorado, just one block south of the award-winning Paseo Colorado lifestyle center. Also located nearby are Old Town Pasadena, Lake Avenue Business and Shopping District, and the Pasadena Convention Center, as well as the Del Mar Metro Gold Line Station. The asset\u2019s placement also offers great access to the 210, 134 and 110 freeways.<\/p>\n<p>The new owner will take the property through a number of modifications including a well-designed renovation program for the lobby, corridors, bathrooms, elevator lobby, overall common areas and building systems. According to the Chairman of Laurus Coporation, Andres Szita, \u201cThese upgrades to the interior and exterior will further drive rental rates, occupancy and tenant satisfaction.\u201d The area features a number of drivers for office demand, with the California Institute of Technology, NASA\u2019s Jet Propulsion Laboratory and the Art Center College of Design. The area features a well-educated workforce, great research facilities and important presences in the technology, healthcare and media sectors.<\/p>\n<p>Image courtesy of\u00a0<em>trgpartners.com<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Pasadena office asset was recently picked up by private real estate investment and development firm Laurus Coporation. The company announced the acquisition of 199 South Los Robles this week, which marks an expansion of Laurus into the country&rsquo;s second largest office market. Pasadena is one of the best performing submarkets in Los Angeles, with the area being able to maintain a consistently low average vacancy rate over the past decade. Pasadena, along with Glendale and Burbank, is part of Tri-Cities market, one of the top three real estate markets in Los Angeles County.<\/p>\n","protected":false},"author":237,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1594,21742],"tags":[],"class_list":["post-1004113070","post","type-post","status-publish","format-standard","hentry","category-los-angeles","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Pasadena Office Asset Acquired by Laurus Corporation - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/pasadena-office-asset-acquired-by-laurus-corporation-4\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Pasadena Office Asset Acquired by Laurus Corporation\" \/>\n<meta property=\"og:description\" content=\"A Pasadena office asset was recently picked up by private real estate investment and development firm Laurus Coporation. The company announced the acquisition of 199 South Los Robles this week, which marks an expansion of Laurus into the country&rsquo;s second largest office market. Pasadena is one of the best performing submarkets in Los Angeles, with the area being able to maintain a consistently low average vacancy rate over the past decade. Pasadena, along with Glendale and Burbank, is part of Tri-Cities market, one of the top three real estate markets in Los Angeles County.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/pasadena-office-asset-acquired-by-laurus-corporation-4\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-02-09T04:31:16+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T05:51:43+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/199-South-Los-Robles.jpg\" \/>\n<meta name=\"author\" content=\"Anca Gagiuc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pasadena-office-asset-acquired-by-laurus-corporation-4\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pasadena-office-asset-acquired-by-laurus-corporation-4\\\/\"},\"author\":{\"name\":\"Anca Gagiuc\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/340a1a5e8e7dd137bd91ca1dd3a2e9d7\"},\"headline\":\"Pasadena Office Asset Acquired by Laurus Corporation\",\"datePublished\":\"2015-02-09T04:31:16+00:00\",\"dateModified\":\"2022-12-08T05:51:43+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pasadena-office-asset-acquired-by-laurus-corporation-4\\\/\"},\"wordCount\":292,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pasadena-office-asset-acquired-by-laurus-corporation-4\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/199-South-Los-Robles.jpg\",\"articleSection\":[\"Los Angeles\",\"News\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pasadena-office-asset-acquired-by-laurus-corporation-4\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pasadena-office-asset-acquired-by-laurus-corporation-4\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/pasadena-office-asset-acquired-by-laurus-corporation-4\\\/\",\"name\":\"Pasadena Office Asset Acquired by Laurus Corporation - 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