$4.34 Million Sale Finalized for Historic Fremont Centre Theatre & Office Building in South Pasadena

The historic Fremont Centre Theatre & Office Building in the heart of South Pasadena has sold for $4.34 million in an all-cash transaction, global real estate advisor Avison Young announced Monday.

The 12,057-square-foot, two-story property—located at 1000 Fremont Avenue—was built in 1925 and has maintained high occupancy for nearly three decades. It is currently fully leased by 22 office, retail, and service tenants. The building also features an interior courtyard and houses the highly rated restaurant Piccadilly Grace, known for its outdoor garden space.

Avison Young Principal Andrew Berk represented the sellers, Lissa and James Reynolds, long-time South Pasadena residents and prominent figures in the local arts and entertainment scene. The couple acquired the property and opened The Fremont Centre Theatre nearly 28 years ago, serving as its co-artistic directors. The buyer is a South Pasadena-based private investor.

“The Fremont Centre Theatre & Office Building is a century-old, unique pride-of-ownership asset that is absolutely irreplaceable and beloved by the community,” said Berk. “The new ownership intends to continue the legacy the Reynolds built over the years.”

Berk noted that the property attracted four competitive offers, ultimately selecting a local buyer who valued both the building’s character and long-term potential. “Authentic, well-located buildings in urban cores like this are rare, and investors feel confident in their intrinsic value,” he said.

Originally constructed as a mortuary, the building was later repurposed into a live performing arts theater space. It gained prominence as a regular venue for Pulitzer Prize-winning author and playwright Ray Bradbury and his Pandemonium Theatre Company.

Located just northeast of downtown Los Angeles, the South Pasadena submarket is recognized for its small-town charm, preserved Craftsman architecture, and strong community spirit, making it an attractive destination for both residents and commercial investors.

Avison Young, a private global real estate firm, works with clients to deliver economic, social, and environmental value through collaborative, data-driven real estate strategies.