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Paracel Inks $25-Mil Koll Center Lease

LOS ANGELES-High-tech firm secures 84,827 sf, signage rights at new Koll Center Pasadena.

By David M. Kinchen | Updated on August 09, 2000

LOS ANGELES-Wanting to stay in Pasadena and close to Cal Tech, high-tech/bio-tech firm Paracel Inc. has signed a 10-year lease valued at more than $25 million for 84,827 sf in the new Koll Center Pasadena complex nearing completion on Colorado Boulevard here.

The deal includes “prominent building top signage,” says Patrick Church of the Glendale office of CB Richard Ellis, which represented Newport Beach-based builder Koll Development Co. Paracel Inc., repped by Cresa Partners, Brentwood, will move into the fourth and fifth floors of the 176,170-sf building next March.

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