115-Year-Old Livery Building in Old Pasadena Sells for $6.5 Million

A two-story historic livery building along South Fair Oaks Avenue in Old Pasadena has sold for $6.5 million, according to the company that brokered the purchase.

Escrow closed Wednesday on the 12,826 square-foot office building at 155 S. Fair Oaks Ave., according to CBRE, which represented the seller.

It was purchased by an owner/occupier registered as My Jem LLC, which was expected to use the building for boutique co-working space and possible event space, CBRE Vice President Kyle Barratt said.

The building has been most recently occupied by an architectural firm, he said. It underwent a renovation in 2002.

“Obviously the exterior façade was kept in place,” Barratt said. “The interior was seismically retrofitted with upgraded lighting. They did all-new HVAC (heating, ventilation and air conditioning)… carpet, paint and interior improvements.”

The structure was built in 1906, starting out life as livery stables serving guests of the Hotel Green, CBRE spokeswoman Nadja Brandt said. It’s listed on the National Register of Historic Places.

“It’s a very cool building, very desirable from a historical standpoint,” Barratt said.

“In Pasadena, in general, when we have these historic properties, we find that when we take them to market, they’re very well received among the buyer pool, especially within the local market,” he added. “I think there’s a lot of Pasadena historic charm that people are chasing with these types of properties.”

The property received multiple offers, according to Barrett, who facilitated the transaction along with team members Kevin Duffy, Natalie Bazarevitsch and Jackie Benavidez and

More information on CBRE in the greater Los Angeles area is available on the company’s website at cbre.us/people-and-offices/corporate-offices/los-angeles.