Bounded by North Halstead Street and East Foothill Boulevard,the project includes two three-story office buildings and a retailbuilding, with IndyMac occupying 71% of it. The bank wasrepresented in the sale by Todd Doney of CB Richard Ellis alongwith Steve Silk and Steve Somer of Eastdil Secured.
The buyer did not disclose terms of the deal, but a publicfiling by IndyMac listed the sales price as approximately $116million. According to information from Real Capital Analytics, theproperty sold for $56 million when IndyMac bought it from KearnyReal Estate in late 2003. The property serves as IndyMac's mortgagebanking headquarters.
The Pasadena Corporate Park was a value-added play for Kearnybefore its sale to IndyMac, with Kearny buying what was originallyknown as the Xerox facility in December 1999.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
