Insignia's Todd Doney and Nico Vilgiate will market the Royal Laundry Building, at 443 S. Raymond Ave. in Pasadena's Technology Corridor. The three-building complex was erected in the 1930s but is currently undergoing a multimillion-dollar renovation.
The building is owned by a joint venture of Lexington Commercial Holdings and The Lee Group. Though the renovation will eventually provide about 80,000 sf of modern office space, the reconfigured complex will retain many of the elements that Southland architect Gordon Kaufman incorporated when he designed the structure about 70 years ago.
Completion is expected in May, Insignia broker Doney says, with asking rents set at about $26 psf per year on a triple-net basis.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
