The Superior Building
Address: 61 North Raymond Avenue
Purchased: January 2013
Size: 42,704 square feet
The Superior Building is a historic building built in 1896.
It is located at the northwest corner of Raymond Avenue and Union Street, in Old Pasadena, one block north of iconic Colorado Boulevard.
Edgewood and its partners purchased the project online through Auction.com, and submitted over 30 counter bids to prevail at auction.
The building was institutionally owned at the time of purchase. Edgewood coordinated a comprehensive property upgrade program, and subsequently increased occupancy and income.
Status – Continue aggressive leasing program to maximize cash flow and long-term capital appreciation.