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Barker Pacific and Wells Fargo Recapitalize Historic Pasadena Office Building
Barker Pacific Group (BPG) and Wells Fargo have recapitalized 225 East Colorado Boulevard in downtown Pasadena. BPG first acquired the seven-story, 55k sf foot historic building in August of 2004. It is located on the corner of East Colorado Blvd and Marengo Ave.
Situated one block east of Old Town Pasadena, in the heart of the downtown district near the Pasadena City Hall complex, the reinforced concrete building was originally built in 1908 for Citizens Savings Bank. The building is 82 percent occupied – 23 percent or 10.5k sf was recently leased as HQ space for one of Pasadena-based Dilbeck Realty. Besides Dilbeck Realty, other tenants in the building include: Smith Brothers, Pasadena’s leading restaurateur that operates the popular Arroyo Chop House and Parkway Grille; and Inland Investment Holding along with a diversified collection of professional service firms.
Also in the LA area, Barker Pacific Group redeveloped The Fine Arts Building, 626 Wilshire Boulevard and 5055 Wilshire Boulevard in Los Angeles along with 101 Continental in El Segundo. Several of Barker Pacific Group's other notable projects include: One Sansome Street and 100 First Street in San Francisco, Hamilton Landing and Rowland Plaza in Marin County and The Miami Arena and Columbus Center in South Florida. The company also manages and owns Union Development Financial, a company that owns 25 commercial properties throughout Southern California including the 21-location Storage Solutions.
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