PASADENA, CA-Rising Realty Partners has teamed with Silicon Valley tech expert David Sacks to acquire the Old Pasadena Plaza, a three-building, 60,771-square-foot retail center and office space. The partnership plans to renovate the property into creative office that, according to Sacks, will become Pasadena's “tech hub.”

The idea makes sense considering Pasadenas tech ties. In addition to the California Institute of Technology and the Jet Propulsion Laboratory, Pasadena is home to 300 technology companies. “I see this as a significant opportunity to build on the clustering of tech companies that is underway in Pasadena by offering Silicon Valley-style creative space and amenities,” says Sacks, who has created two billion-dollar companies before selling them off to the likes of Microsoft and e-Bay.

Rising Realty and Sacks plan to create fiber-to-the suit needs by installing a site-wide fiber backbone and fault-tolerant network redundancy. The property will have multiple ISP's for carrier diversity and an on-premises rack system, and outdoor areas will be equipped with the fastest wifi speeds open to tenants and visitors. For the building interior, developers will create open floor plans by tearing down interior walls.