Shops on Hill Sold for $13.4 Million

Mixed-use retail center Shops on Hill in Pasadena sold for $13.4 million, according to Los Angeles-based commercial real estate firm CBRE Group Inc. Located at 1383 Washington Blvd., Shops on Hill includes two buildings – totaling approximately 32,700 square feet – located on opposite corners at the intersection at East Washington Boulevard and North Hill Avenue. The ground floors of the structures contain retail space, while the second floors have 12 single apartments. CBRE brokers Ken McLeod, Alex Vasquez and Tim Kuruzar represented the seller Greenbridge Investment Partners Inc. of Beverly Hills, as well as the buyer Shops on Hill LLC, an entity controlled by Engine Real Estate Services Inc. of Los Angeles. “Shops on Hill provides a unique opportunity to acquire two corners at a pivotal intersection,” Vasquez said in a prepared statement. “With its attractive, vintage brick façade architecture and location, Shops on Hill has unparalleled visibility.”