.

Sale Falls Through at Property at Altadena and Lincoln, New Deal Possible

A potential sale of the vacant property at 575 West Altadena Drive fell through this summer. But there may be interest from another buyer.

A few months ago, it looked as though a buyer might finally give our favorite vacant lot and half-built gulag a tumble. But according to Bill Davis of the South Pasadena-based Huntington Group, fell through.

However, according to Dan Riley of CBRE, a commercial real estate services firm, another deal involving the northeast corner of Altadena and Lincoln may be in the works. If it pans out, we should know in the next 60 days. Riley said the potential buyer would not be the owner/user, but would complete construction and improve the property for subsequent sale. Riley said he was not at liberty to divulge the name of the parties involved.

Now an empty lot with a half-built building, this site used to host a neighborhood market and a church. Other than the occasional weed-whacking, it has been left untended for several years.

Related:


Leslie Aitken August 29, 2012 at 09:07 PM
I hope someone buys it -- and might I say.......COFFEE SHOP, COFFEE SHOP......or some place to purchase an early am cup of coffee in the NW. Let's not even talk about all of the E/W traffic in the am going to JPL!!
Karin Bugge August 30, 2012 at 04:03 AM
Leslie, I'm not a fan of all caps, but yes, COFFEE SHOP.
AJ August 30, 2012 at 08:39 PM
Yes, a coffee shop would be great! Or maybe the home to the co-op. Or a learning center/office space for all this urban agriculture and local food stuff that's been going on.
Laura Monteros August 30, 2012 at 10:15 PM
How about a tack and feed store for all the equestrians that use Loma Alta Equestrian Center? No more liquor licenses or check-cashing places. And a gas station across the street (same property owner as NE corner) at old station site. There is not one gas station on Lincoln Ave. JPL alone would support one at that site.
ed meyers August 30, 2012 at 11:53 PM
I've twice spoke with a "Ben" from CBRE. The first time, many months ago, the site was going to be sold to a Pasadena developer. As we all know, this didn't happen. I've posted elsewhere on Patch, the results of my 2nd call. Bottom line is that they're still looking. Ben had no idea a Walmart was coming to Lincoln/Fig. I hope I'm wrong but the call made me feel that CBRE doesn't know what the needs are of the community. CBRE isn't developing the site, but hopefully they'll sell to someone who does have some idea of what we're looking for.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something
See more »