Avison Young Brokers $5.3M Sale of Vacant Artistry Theater in Pasadena
PASADENA, CALIF. — Avison Young has arranged the sale the Artistry Theater Building, located at 600 E. Colorado Blvd. in Pasadena’s Playhouse District. Colorado Creative LLC sold the property to Morton Development Group for $5.3 million.
The buyer plans to redevelop the long-vacant property into a retail and office asset.
Built in 1931 as a United Artists theatre, the 15,060-square-foot property was first renovated in 1960, but the property has fallen into a long state of disrepair and neglect. Its tenant of more than a decade, Angels School Supply, vacated the building more than three years ago, and the property has been empty ever since.
Andrew Berk and Chase Gordon of Avison Young represented the seller, while the buyer was self-represented in the transaction.