Gateway Plaza Sold to Retirement Group

The 13-story Pasadena Gateway Plaza building, completed a year ago, has been sold to the Los Angeles County Employees Retirement Assn. in a $70 million-plus sale-lease transaction, real estate officials announced.

The association will own and manage the building through Heitman Properties, a subsidiary of Heitman Advisory Corp. of Los Angeles.

In addition, the retirement association will lease 80,000 square feet in the 300,000-square-foot building on Lake Avenue. It is is 85% occupied.