LOS ANGELES-Green Dot Corp., a publicly traded company that provides widely distributed, low-cost banking and payment solutions to US consumers, has completed a 141,540-square-foot lease transaction that consolidates its corporate headquarters into one space. Green Dot currently occupies three separate buildings in Monrovia, CA.
The company, which is also the owner of one of the nation's largest retail cash reload and payment networks, will move to 3465 E. Foothill Blvd. in Pasadena, in late 2012. According to a prepared statement, the company recently engaged the UGL Services downtown L.A. team led by executive vice presidents Josef Farrar and David Kluth to evaluate their current situation and “create a strategic real estate plan that supported long term business objectives.”
From that engagement, the company was able to consolidate to the space within the Pasadena Corporate Park, allowing them to also be “located in a more central location for employees, which includes convenient access to public transit and other amenities.”
Farrar tells GlobeSt.com that the transaction is for a 10-year team and is valued at approximately $45 million.
According to UGL, the lease agreement represents one of the largest office deals in Southern California in the past year. Todd Doney, vice chairman of CBRE in Los Angeles, represented the owner, the Wells Real Estate Investment Trust II Inc.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
