The Container Store Bldg-Old Town Pasadena 60-64 N Fair Oaks Ave

Faris Lee Investments proudly presents a rare opportunity to acquire a prime retail property in the heart of Old Town Pasadena, anchored by The Container Store, a premier national tenant. Located at the high-traffic intersection of Union Street and Fair Oaks Avenue—one of Pasadena’s busiest streets with nearly 30,000 vehicles per day (VPD)—this property benefits from excellent visibility and accessibility within a thriving retail district.
Old Town Pasadena is one of Southern California’s most coveted retail and lifestyle destinations, attracting affluent customers with significant foot traffic. The dynamic shopping district boasts 6.7 million annual visitors in the last 12 months, driven by a blend of high-end boutiques, luxury retailers, and fine dining, including: Lululemon, Nike, Apple, Tiffany & Co., TESLA, Pottery Barn, and Restoration Hardware, among others. The property is ideally located within this vibrant commercial district, offering easy access to a population of over 34,000 within 1 mile and 192,500 within 3 miles. Average household income in the area is strong, at $126,000 within 1 mile and $154,000 within 3 miles, emphasizing the strong economic profile and purchasing power in the area.
As a market leader in home organization solutions, The Container Store holds a unique position in the retail landscape. This store is the only Container Store location within a 15-mile radius, serving a broad customer base throughout Los Angeles County and reinforcing its importance as a destination retailer in this market.
Current building improvements would be extremely difficult to duplicate due to high construction costs and the complexities of the entitlement process. Land and building costs for similar properties exceed north of $900psf, reflecting the high demand and limited supply in this sought after market.
The property is secured by a NNN lease, with The Container Store responsible for all property expenses, including CAM, property taxes, and insurance, thereby minimizing landlord obligations and ensuring a steady, predictable income stream. Additionally, the property is self-managed, with the tenant overseeing its operations directly, further simplifying landlord responsibilities. The lease includes rental adjustments tied to Fair Market Value at the next option period, presenting future rent growth potential in a highly constrained market. Rental rates in Old Town Pasadena are among the highest in the region, with neighboring tenants paying between $42 to $130 PSF/yr. This reflects the desirability of the area and the property’s long-term value. The Container Store’s strong market positioning and long-term commitment ensure stability and consistent returns for investors.
Pasadena’s retail market continues to thrive, characterized by low vacancy rates and rising consumer spending. This property, located in a densely populated and affluent area, is ideally positioned to capitalize on sustained economic growth and increasing demand for premium retail space. Anchored by a national credit tenant and situated in a high-traffic, supply-constrained market, this offering represents a rare chance to acquire a well-located, high-performing retail asset with the promise of strong, stable returns and long-term growth in one of Southern California’s most desirable commercial districts.