The property is at the northeast corner of Colorado Boulevard and Raymond Avenue, in Old Pasadena. Edgewood bought it through an affiliate.
The building exterior retains its historic design, and the interior has been upgraded for modern office use, while retaining many original features. The transaction was arranged by Sheri McCanless of MacVaugh & Co., which also handles leasing of the building. The Kutzer Co. will serve as manager of the project.
Edgewood Realty Partners LLC is a private investment firm that acquires, invests in, develops, manages and disposes of commercial properties in the western US in partnership with other investors. The firm is managed by Pete Kutzer and Joseph McNulty.
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