Maguire Begins Phase 2 of Pasadena Project

Developer Maguire Partners has begun work on the long-delayed second phase of its Plaza Las Fuentes project in Pasadena that will house the headquarters of investment firm Western Asset Management, according to city officials.

The Los Angeles-based developer has begun to clear the site at the northwest corner of Colorado Boulevard and Los Robles Avenue in preparation for constructing a five-story, 270,000-square-foot building. City officials say that Western Asset Management, currently housed in a smaller facility in historic Old Pasadena, will occupy about 150,000 square feet in the structure, which will be named Western Asset Plaza.

Officials with Maguire Partners could not be reached to discuss the project. An official with Western Asset Management declined to comment.

The project will keep Western Asset in the city, where it plans to expand its work force to nearly 600 people from 270, said Kirk Pelsr, a development administrator with the city of Pasadena.