Los Angeles Metro Area Property Acquisition
ENVIROFINANCE GROUP, LLC ANNOUNCES PURCHASE OF SOUTH PASADENA CALIFORNIA PROPERTY
Denver, Colo. (November 27, 2012) – EFG-Arroyo Gateway, LLC (EFG), an EnviroFinance® Group company, announced today that it recently acquired a three building office park located at 131 – 175 Pasadena Avenue, South Pasadena, CA. The 2.23 acre property contains two single-story buildings and one two-story building totaling ±42,000 square feet of rentable space.
EFG plans to extensively renovate the former electronics manufacturing site for multi-tenant office and light-industrial use. Improvements will be made to the buildings’ interior and exterior, as well as the landscape, and the property will be re-branded as “Arroyo Gateway Business Park”.
Centrally located between Downtown Los Angeles and Pasadena, Arroyo Gateway Business Park will cater to a wide variety of creative professional and office users looking to operate in a friendly and less congested market. Tenants will benefit from access to bike paths, mass transit and the Arroyo Seco Golf Course.
EFG’s Arroyo Gateway Business Park will become a vibrant workplace that complements South Pasadena’s southern gateway. Active marketing is underway for spring, 2013 occupancy. Leasing inquiries should be submitted to NAI Capital’s Sharon Dye at (626) 564-4800 extension 109.
About EnviroFinance® Group
EnviroFinance Group, LLC is a principal developer of brownfield and urban infill redevelopment projects across the United States. Guided by socially responsible land use and development practices, EFG collaborates with local, state and federal governments, community groups and private developers aligning stakeholder interests and creating positive changes to communities. For more information please visit www.envirofinancegroup.com.