Six25 South PasadenaCreative Office & Adaptive Reuse
625 Fair Oaks Avenue, South Pasadena, CA 91030
Six25 is a 92,547 square foot creative office building originally constructed in 1987. After acquisition in 2014, the property was repositioned as a creative office building following years of minimal capital improvements since construction. Six25 has a 93 Walkscore and is located across the street from Bristol Farms on Fair Oaks Avenue proximate to the 110 Freeway.
The project was structured as a joint venture between Genton Cockrum Partners and an institutional investor. Genton Cockrum Partners acquired the property and performed asset management, property/parking management, design/construction management and leasing services. The $20.0 million acquisition in 2014 was sold for $30.7 million in 2018.
The Six25 investment thesis was to capitalize on current demand for creative office space in the West Pasadena market as a low cost provider relative to buildings located on Colorado and Lake Avenues with comparable tenant improvements for spec suites, unique creative build-outs for larger tenants, and walkable amenities. Genton Cockrum Partners completed a creative office capital improvement program which supported the creative office leasing program. Also, Genton Cockrum Partners executed "hands-on” management of the property increasing revenues and decreasing expenses relative to the prior owner.