The historic Star-News Building in downtown Pasadena has been sold for $16.55 million to a Beverly Hills real estate investment and management firm.
Greenbridge Investment Partners bought the imposing four-story building at 525 E. Colorado Blvd. out of Chapter 11 bankruptcy proceedings, said real estate brokers Bob Safai and Matt Case of Madison Partners.
Completed in 1925 and named after its original newspaper-publishing occupant, the Star-News Building is a Beaux-Arts style office and retail building totaling 63,863 square feet.
The building is 100% leased by tenants 24-Hour Fitness, Le Cordon Bleu College of Culinary Arts and Eclat Medical, Safai said. The deal also included a 207-stall parking structure.
The daily Pasadena Star-News, which dates to 1884, now keeps offices at 911 E. Colorado Blvd.