Press Release brought to you by NAI Capital

NAI Capital Awarded Exclusive 116,458 SF Class A Office Leasing Assignment in Pasadena, CA

06/20/2019

Pasadena, CA – June 20, 2019 – NAI Capital is proud to announce that Executive Vice President Scott Martin, SIOR and Senior Vice President John Martin have been awarded the exclusive leasing assignment by Lake One Capital, LLC at 70 South Lake, a 116,458 SF, class A office building in Pasadena, California. 70 South Lake is a premier 11-story multi-tenant office building located within Pasadena’s Central Business District. The building is surrounded by world-renowned financial institutions, groundbreaking technology companies and some of California’s most prestigious educational institutions. 70 South Lake is currently 64 percent leased with a total of 61,300 SF of available space ranging from 1,511 to 12,843 SF suites. The building can accommodate a 23,508 SF tenant on the two upper floors. The 10th floor and Penthouse Suite offer amazing city views with a wraparound balcony area. The new ownership plans approximately $2M in renovations including:

Modernized exterior façade upgrade

  • New Lobby and entrance
  • Welcoming outdoor seating area and green wall
  • Common area upgrades

New ownership is providing substantial leasing incentives

  • Spec suites
  • State-of-the-Art Conference Center

The new ownership plans to start the interior and exterior renovations this summer.

Scott said, "We are excited to work with a proactive ownership that understands the designs and modern amenities that tenants are demanding in today’s marketplace."

“This ownership is deploying capital and construction teams to create intelligent improvements in the common area lobby, elevators, restrooms, and parking structure,” added John.

About NAI Capital

NAI Capital is the largest independently owned full service commercial real estate firm headquartered in Southern California. As one of the largest members of NAI Global, the premier managed commercial real estate service network with 400 Offices and 7,000 market leaders spanning the globe, NAI Capital provides a complete range of transaction, valuation, investment, property management and consulting services. By leveraging our local expertise with our global reach, NAI Capital offers innovative, customized solutions and seamless service to owners, tenants, investors and developers throughout Southern California. NAI Capital clients have built their businesses on the power of our expanding network. We are a dynamic growing commercial real estate company. At NAI Capital we work together putting our clients first.

NAI Capital Brokerage CA BRE #01990696.

To learn more, visit www.naicapital.com.

About NAI Global

NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 400 offices strategically located throughout North America, Latin America, Europe, Africa and Asia Pacific, with over 7,000 local market professionals, managing in excess of 425 million square feet of property. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions throughout the world.

NAI Global provides a complete range of corporate and institutional real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.

To learn more, visit www.naiglobal.com.

           

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Source

NAI Capital

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