{"id":1004427718,"date":"2020-04-29T04:11:29","date_gmt":"2020-04-29T12:11:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004427718"},"modified":"2020-04-29T06:25:58","modified_gmt":"2020-04-29T14:25:58","slug":"atlas-capital-group-closes-los-angeles-value-add-acquisition","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/","title":{"rendered":"Atlas Capital Group Closes Los Angeles Value-Add Acquisition"},"content":{"rendered":"
\"\"<\/a>

101 S. Marengo Ave. Image courtesy of JLL<\/em><\/p><\/div>\n

Atlas Capital Group is the new owner of the former Bank of America building, a five-story, 315,000-square-foot Class A office property in Pasadena, Calif.<\/a>, according to public records. JLL Capital Markets represented the seller and procured the buyer for the transaction but did not disclose the parties involved or the price paid.<\/p>\n

\n

READ ALSO<\/strong>: How to Prevent Spreading COVID-19 in Office Buildings<\/a><\/p>\n

\n

Located at 101 S. Marengo Ave., the white, windowless rectangular building had been used by Bank of America as a corporate office for customer service, data management and other back-office operations since it was built in 1974. Bank of America\u2019s lease expired in early 2019 and the property has been vacant since then. JLL confirmed the new owner will be renovating the building as a multi-tenant property and expects it to become one of the premier office spaces in the Tri-Cities market.<\/p>\n

The building is situated on a 2.88-acre site one block from the LA Metro Gold line and in close proximity to numerous freeways, including the 110, 134 and 201 Freeways that provide east and west access to the Greater Los Angeles area. The property, which has a Walk Score of 98, is located in the Old Town Pasadena neighborhood with dining, retail and entertainment offerings as well as Paseo Colorado, an outdoor lifestyle destination with top-tier shopping, dining and entertainment including Archlight Cinemas, Equinox, Yard House and P.F. Chang.<\/p>\n

The JLL Capital Markets team representing the seller was led by Senior Managing Directors Michael Leggett and Andrew Harper and Director Will Poulsen, as well as Managing Director Patrick Church with the JLL leasing team.<\/p>\n

Pasadena portfolios<\/strong><\/h2>\n

The Pasadena Corporate Park has also recently changed hands with longtime owner Columbia Property Trust selling the three-building, 260,000-square-foot office property for $78 million. Located at 3465 and 3475 E. Foothill Blvd., Pasadena Corporate Park has two- and three-story buildings with tenants including Green Dot Corp. and Tetra Tech.<\/p>\n

In November, Swift Real Estate Partners acquired a three-property, 516,890-square-foot office portfolio in Pasadena from PGIM Real Estate for $193 million<\/a>. The purchase was made through the real estate investment firm\u2019s $500 million Fund III. JLL Capital Markets represented the seller, procured the buyer and worked on behalf of Swift to secure a $160 million loan through Nuveen Real Estate. Known as the Pasadena Collection, the properties are located at 790 E. Colorado Blvd., 155 N. Lake Ave. and 35 N. Lake Ave.<\/p>\n","protected":false},"excerpt":{"rendered":"

Formerly occupied by Bank of America, the 315,000-square-foot office building in Pasadena, Calif., will be repositioned as a multi-tenant property.<\/p>\n","protected":false},"author":1068,"featured_media":1004427817,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,1594,21742,21747,15],"tags":[36253,33250,33221,32796,44006,34208],"class_list":["post-1004427718","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-los-angeles","category-latest","category-office","category-west","tag-atlas-capital-group","tag-bank-of-america","tag-columbia-property-trust-inc","tag-jll","tag-jll-capital-markets","tag-swift-real-estate-partners"],"acf":[],"yoast_head":"\nAtlas Capital Group Closes Los Angeles Value-Add Acquisition - 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\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Atlas Capital Group Closes Los Angeles Value-Add Acquisition\" \/>\n<meta property=\"og:description\" content=\"Formerly occupied by Bank of America, the 315,000-square-foot office building in Pasadena, Calif., will be repositioned as a multi-tenant property.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/\" \/>\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=\"2020-04-29T12:11:29+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-04-29T14:25:58+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/101-Marengo.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\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\\\/atlas-capital-group-closes-los-angeles-value-add-acquisition\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlas-capital-group-closes-los-angeles-value-add-acquisition\\\/\"},\"author\":{\"name\":\"Gail Kalinoski\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\"},\"headline\":\"Atlas Capital Group Closes Los Angeles Value-Add Acquisition\",\"datePublished\":\"2020-04-29T12:11:29+00:00\",\"dateModified\":\"2020-04-29T14:25:58+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlas-capital-group-closes-los-angeles-value-add-acquisition\\\/\"},\"wordCount\":411,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlas-capital-group-closes-los-angeles-value-add-acquisition\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/04\\\/101-Marengo.jpg\",\"keywords\":[\"Atlas Capital Group\",\"Bank of America\",\"Columbia Property Trust Inc.\",\"JLL\",\"JLL Capital Markets\",\"Swift Real Estate Partners\"],\"articleSection\":[\"Deals\",\"Los Angeles\",\"News\",\"Office\",\"West\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlas-capital-group-closes-los-angeles-value-add-acquisition\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlas-capital-group-closes-los-angeles-value-add-acquisition\\\/\",\"name\":\"Atlas Capital Group Closes Los Angeles Value-Add Acquisition - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlas-capital-group-closes-los-angeles-value-add-acquisition\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlas-capital-group-closes-los-angeles-value-add-acquisition\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/04\\\/101-Marengo.jpg\",\"datePublished\":\"2020-04-29T12:11:29+00:00\",\"dateModified\":\"2020-04-29T14:25:58+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlas-capital-group-closes-los-angeles-value-add-acquisition\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlas-capital-group-closes-los-angeles-value-add-acquisition\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlas-capital-group-closes-los-angeles-value-add-acquisition\\\/#primaryimage\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/04\\\/101-Marengo.jpg\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2020\\\/04\\\/101-Marengo.jpg\",\"width\":800,\"height\":620,\"caption\":\"101 S. Marengo Ave. Image courtesy of JLL\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/atlas-capital-group-closes-los-angeles-value-add-acquisition\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Atlas Capital Group Closes Los Angeles Value-Add Acquisition\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/fc5b5df1393e5023d2417bd48c2fda57\",\"name\":\"Gail Kalinoski\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Gail-Kalinoski-headshot.jpeg?w=86\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Gail-Kalinoski-headshot.jpeg?w=86\",\"contentUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2023\\\/04\\\/Gail-Kalinoski-headshot.jpeg?w=86\",\"caption\":\"Gail Kalinoski\"},\"description\":\"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/gail-kalinoski\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Atlas Capital Group Closes Los Angeles Value-Add Acquisition - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/","og_locale":"en_US","og_type":"article","og_title":"Atlas Capital Group Closes Los Angeles Value-Add Acquisition","og_description":"Formerly occupied by Bank of America, the 315,000-square-foot office building in Pasadena, Calif., will be repositioned as a multi-tenant property.","og_url":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2020-04-29T12:11:29+00:00","article_modified_time":"2020-04-29T14:25:58+00:00","og_image":[{"width":800,"height":620,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/101-Marengo.jpg","type":"image\/jpeg"}],"author":"Gail Kalinoski","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/"},"author":{"name":"Gail Kalinoski","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"headline":"Atlas Capital Group Closes Los Angeles Value-Add Acquisition","datePublished":"2020-04-29T12:11:29+00:00","dateModified":"2020-04-29T14:25:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/"},"wordCount":411,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/101-Marengo.jpg","keywords":["Atlas Capital Group","Bank of America","Columbia Property Trust Inc.","JLL","JLL Capital Markets","Swift Real Estate Partners"],"articleSection":["Deals","Los Angeles","News","Office","West"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/","url":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/","name":"Atlas Capital Group Closes Los Angeles Value-Add Acquisition - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/101-Marengo.jpg","datePublished":"2020-04-29T12:11:29+00:00","dateModified":"2020-04-29T14:25:58+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/101-Marengo.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/101-Marengo.jpg","width":800,"height":620,"caption":"101 S. Marengo Ave. Image courtesy of JLL"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/atlas-capital-group-closes-los-angeles-value-add-acquisition\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Atlas Capital Group Closes Los Angeles Value-Add Acquisition"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57","name":"Gail Kalinoski","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/04\/Gail-Kalinoski-headshot.jpeg?w=86","caption":"Gail Kalinoski"},"description":"Kalinoski has been a contributing writer to Commercial Property Executive and Multi-Housing News since 2010 and previously wrote for three years for Commercial Property News. Gail has been a freelance writer and editor for more than 20 years, contributing to daily websites, magazines, weekly business newspapers, market intelligence newsletters, research reports, monthly B-to-B and consumer magazines. Earlier in her career, Gail worked for Gannett Corp. as an editor and reporter for 15 years. Gail has a bachelor\u2019s degree in journalism from Pace University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/gail-kalinoski\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/04\/101-Marengo.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004427718","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/1068"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004427718"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004427718\/revisions"}],"predecessor-version":[{"id":1004427847,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004427718\/revisions\/1004427847"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004427817"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004427718"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004427718"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004427718"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}