May 23, 2019-– Lee & Associates, the largest broker-owned commercial real estate firm in North America, announces that the Doheny Family Trust has acquired the 10,755-square-foot Brunswick Court Building from the Barbara K Nyberg Trust for $10.6M. Lee & Associates – Pasadena’s Jodi Shoemake and Dan Bacani represented the seller.
The new owner, the Doheny Family Trust, will invest significant capital improvements to renovate, restore, and re-tenant the historically significant property located at 32 West Colorado Boulevard in Pasadena, California. This mixed-use retail and office building sits along Colorado Boulevard’s Rose Parade route and was built in 1887, and is situated in Pasadena’s premier shopping and entertainment district, Old Pasadena.
“I realize the opportunity to list a building on Colorado Boulevard in Old Pasadena is rare. But the potential for me to positively impact the business community was something that I relished. I truly enjoyed every challenging and exhilarating minute of the process. Our team at Lee, the City of Pasadena, Old Pasadena Management District, and many others were instrumental in this successful transaction. The buyer presently owns real estate in the Old Pasadena district and understands the property’s inherent value. Based on my personal experience, the new owners are sophisticated and hands-on who I believe will complete a renovation that we can all be proud of. I’m excited to see the finished product.” said Jodi Shoemake, principal of Lee & Associates-Pasadena, Inc.