Avison Young Announces Sale of The Fremont Centre Theatre & Office Building in the Heart of Historic South Pasadena

Avison Young has announced that it has completed the $4.34-million sale of The Fremont Centre Theatre & Office Building, a 12,057-square-foot multi-tenant commercial property. Built in 1925, the fully occupied, two-story property is located at 1000 Fremont Avenue in the heart of historic South Pasadena.

Avison Young principal Andrew Berk represented the sellers, Lissa and James Reynolds, prominent figures in the South Pasadena arts and entertainment scene and co-artistic directors of The Fremont Centre Theatre, which they opened approximately 28 years ago around the time they acquired 1000 Fremont. The buyer was a South Pasadena-based private investor who paid all cash for the property.

“The Fremont Centre Theatre & Office Building is a century-old, unique pride of ownership asset that has consistently experienced extremely high occupancy for more than 28 years,” said Berk. “This is an absolute irreplaceable trophy asset in the heart of historic South Pasadena that is beloved by all, and the new ownership plans to carry on what the sellers have created here.”

Berk added, “We received four strong offers and selected an ideal local buyer who appreciated all aspects of this iconic property. Authentic, well-located buildings in urban cores like this one are rare to come on the market, and investors feel confident about the immediate and long-term intrinsic value.”

The asset has a storied past, originally built as a mortuary and then repurposed as a live performing arts theater space. The theatre had been a regular venue for the late Pulitzer Prize-winning author/playwright Ray Bradbury and his Pandemonium Theatre Company. The building currently includes 22 office, retail and service tenants.

Information sourced from Avison Young. To learn more, contact Darcie.Giacchetto@avisonyoung.com.