Fannie Mae to Headquarter at Pasadena Site

The Federal National Mortgage Assn. has signed a 10-year lease, valued at about $17 million, to move its regional headquarters from Westwood to Plaza Las Fuentes, a mixed-used complex which will break ground later this year in downtown Pasadena.

Fannie Mae will occupy 68,592 square feet of office space in the plaza, representing about 45% of the office space that will be offered in the first phase of the project.

The initial phase of the plaza--bounded by Walnut Street, Colorado Boulevard, Euclid and Los Robles avenues--will also include two restaurants and a 350-room Doubletree Hotel. Occupancy is planned for March, 1989.

The second phase, which will begin by the end of 1989, will include 500,000 square feet of office and retail space.

Los Angeles-based Maguire Thomas Partners is developing the plaza, and architect is Charles Moore of Santa Monica-based Moore Ruble Yudell. Lawrence Halprin of San Francisco is landscape architect for the project, which will include a series of outdoor fountains.

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