Iconic Royal Laundry Building on Raymond Avenue Sold

The century-old former Royal Laundry Company on Raymond Avenue in Old Pasadena has been sold, the former owner announced this week.

The 77,810-square-foot, single-story office building at 443 S. Raymond Ave., which currently houses Bluebeam Inc., has been sold for an undisclosed price to Santa Monica-based Charing Cross Partners LP, the seller, The Swig Company, said in a written statement. The transaction also includes the adjacent four-story parking structure with 225 spaces.

“[Charing Cross Partners] targets properties in the Western U.S. with a focus on revenue growth and the creation of long-term value,” according to the statement.

The Swig Company first purchased the building seven years ago for $26.1 million, the Los Angeles Times reported at the time.

“Since acquiring the building in August 2014, when it was tenanted by Disney Stores USA, The Swig Company has upgraded the landscaping, replaced the roof and renovated the exterior,” according to The Swig company statement.

“In 2019, it re-tenanted the 100-year old property, which is now the home of Bluebeam, Inc., a cloud-based software partner to the AEC industry.”

The building was first used to house Pasadena’s Royal Laundry Company in the 1920s.

The Swig Company still owns another 96,000-square-foot office building at 595 E. Colorado Blvd. in Pasadena’s Playhouse District, according to the company.

“The ground floor and mezzanine of that building, which sits on the Rose Parade route, recently became available for lease for the first time in several decades,” the statement said.

More information on The Swig Company can be found online at swigco.com.

More information on Charing Cross Partners can be found at charingcp.com.