$4,500,000 FOR SALE. 897 Granite Drive. Pasadena, CA Classic Office Property. User/Investor/Development Potential. South Lake District

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1 FOR SALE South Lake District $4,500,000 User/Investor/Development Potential Colleen Carey 897 Principal Granite Drive D C ccarey@lee-associates.com CalBRE Broker Lic.# lee & associates - pasadena, Inc. 155 North Lake Avenue, Suite O F lee-associates.com Corporate ID

2 BUILDING INFORMATION SALE PRICE: $4,500,000 PERCENT LEASED: 100% YEAR BUILT: 1950 FOR SALE South Lake District YEAR UPDATED: 2011 (Interior & Exterior entirely remodeled) RENTABLE SF: ±6,060 LAND SIZE SF: ±17,690 IN PLACE INCOME: $204,640 PARKING: 30 Spaces / 5:1,000 Ratio ZONING: CD-5 allows for Mixed Use Development (check with City as New Development Standards are in process of implementation) PARCEL NUMBERS:

3 FOR SALE South Lake District BUILDING DESCRIPTION Classic one-story office building Eligible for 100% Medical Office occupancy Currently leased as professional office, but can be delivered vacant Lease expiration 8/31/2021 One (1) five-year option remaining FEATURES Located in the South Lake Shopping District of Pasadena Formerly The Chronicle and Pinot at The Chronicle restaurants Walking distance to retaurants and retail amenities on South Lake Avenue Abundant parking offered on site Development potential for Dense Mixed Use

4 aerial & AREA LOCATION LAKE AVE. GRANITE DR. SAN PASQUAL ST. 897 GRANITE DR. PASADENA CA The building at enjoys a rich local history beginning on July 1950 as a popular restaurant called The Honker, where holiday dining became a revered tradition for Pasadena families. In 1971, new owners renamed it The Chronicle which enjoyed great success as a top notch restaurant. 20 years later the owners of Patina in Los Angeles purchased the restaurant and modernized it for the next generation to enjoy. By 2002 actress/singer Jennifer Lopez opened her Cuban restaurant Madre s. After nearly 60 years operating as a well-known restaurant in the community, this property was entirely remodeled and converted into an elegant real estate office for Podley Properties. Much of the original features were kept, but the interior is now an efficient office space with lots of natural light. The City of Pasadena is located in the northern central portion of Los Angeles County at the western end of the San Gabriel Valley and at the foot of the San Gabriel Mountains. Pasadena is situated approximately 10 miles northeast of downtown Los Angeles and approximately 25 miles inland from the Pacific Ocean. Pasadena is generally bordered by the City of Glendale to the west, the community of Altadena to the north, the cities of Sierra Madre and Arcadia to the east, and the cities of South Pasadena and San Marino to the south. It is widely recognized as the home of the Rose Bowl, Jet Propulsion Laboratory (JPL), California Institute of Technology (Caltech) and host to the annual Tournament of Roses parade. Pasadena is one of the most affluent and diverse communities in Los Angeles, with the second largest population in the San Gabriel Valley (143,500 residents), and is also one of the fastest growing cities in the region. The City also benefits from having a highly educated workforce. In fact, over 65% of residents in Pasadena hold a bachelor s degree or higher. Caltech, which is frequently cited as one of the world s best universities, has the largest share of graduate who go on to earn a doctorate degree after graduation. Pasadena consistently ranks as one of America s most desirable cities in which to live and is a highly desirable destination for shopping, entertainment and cultural amenities. N

5 demographics south lake avenue 1 MILE 3 MILES 5 MILES POPULATION 26, , ,798 MEDIAN AGE HOUSEHOLDS 14,148 77, ,045 AVERAGE HH INCOME $111,209 $107,452 $99,321 HH OVER $75, % 45% 43.10% COLLEGE 1-4 YEARS 74% 66.60% 71.3% OWNER OCCUPIED UNITS 30.6% 49.60% 45.70% map location 897 GRANITE DR. PASADENA CA 91101

6 AMENITIES aerial Rose Bowl city hall HUDSON AVE. LAKE AVE. SAN PASQUAL AVE. GRANITE DR. subject property Colleen Carey Principal D C ccarey@lee-associates.com CalBRE Broker Lic.#