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EverWest Acquires 465 North Halstead Pasadena, CA


June 22, 2016

EverWest Real Estate Partners is pleased to announce the acquisition of 465 North Halstead, a two-story, 238,205 square foot creative office project sited on an expansive 9.6 acres. The seller recently completed extensive base building and architectural upgrades resulting in the only truly creative office project in Pasadena that can offer large contiguous spaces in a horizontal environment which are highly sought after by today's tenants seeking open collaborative environments. The property enjoys significant amenities including a 24 Hour Fitness, outdoor work spaces and adjacency to numerous restaurants, retailers and a regional shopping center. 465 North Halstead is also conveniently located within a half-mile walk from the Metro Gold Line which provides immediate access to Downtown Pasadena, Downtown Los Angeles, and the entire San Gabriel Valley. 
 
Erik Good, Managing Director, comments, "We are extremely pleased with the opportunity to have acquired 465 North Halstead. The investment offers strong current cash flow through a diversified rent roll comprised of credit tenants in the technology and financial services sectors. We also see significant upside opportunity through furthering the modernization / creative feel of the project. In addition to a host of architectural enhancements, we are under way on speculative buildout of the remaining vacancy which will deliver highly desirable modern office improvements fully activated with outdoor work spaces unlike anything currently available in the marketplace ."