PASADENA, CA—21st Century Techbanq Pasadena LLChas acquired a historic building in Pasadena for $36.4 million fromEmbarcadero Capital Partners in an off-markettransaction. Located at 234 E. Colorado Ave., the123,100-square-footoffice-and-retail building isknown for its architectural design.

A BJs Brewhouse occupies the ground floor of this property,which attracts office tenants as well with function floor plates,mountain and city views and proximity to amenities. The property ison the Tournament of Roses Parade, a high-traffic area with ampleretail and restaurants, and is adjacent to the Paseo ColoradoShopping Center. Madison Partners Matt Case and Bob Safairepresented the seller in the transaction. CassidyTurley's Tenny Tsai, DannyYu, Suzanne Lee and JakeDederer represented the buyer. They were unavailable forcomment prior to the publication of this story.

This is the third property that the Madison Partners have soldin this submarket this year. The other two transactions include thesale of the historic Star News Building in DowntownPasadena for $16.5 million and the sale of the Disney headquarters building for $26.1million.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.