Doheny Eye Institute Buys Former Avery Dennison HQ

Doheny Eye Institute of Boyle Heights has acquired a four-story Pasadena office building for $50 million, according to brokerage Charles Dunn Co. The center bought the 123,203-square-foot property at 150 N. Orange Grove Blvd., and will move to the new location in the fourth quarter of 2018 from its current headquarters, at 1355 San Pablo St., a building on the County-USC medical campus, according to Charles Dunn. Senior Managing Directors Bill Boyd and Linda Lee, along with trends and technology specialist Scott Unger, from Charles Dunn’s Glendale office represented Doheny, according to the firm. The seller, Foster City real estate firm SteelWave Inc. acquired the property for $19.8 million in late 2013 from Glendale-based manufacturing firm Avery Dennison, which owned and occupied the building as its headquarters. The recent sale represents a 153 percent gain for SteelWave on the property.