PASARROYO

What PASARROYO does

PASARROYO is a Class A commercial real estate complex located on South Lake Avenue in Pasadena, California, comprising three office buildings addressed at 201, 225, and 251 South Lake Avenue. The asset offers multi-tenant office leasing alongside two ancillary on-site revenue streams: Industrious-branded coworking space at Building 251, Suite 800, and The Gathering Conference & Event Center, also at Building 251. Tenant services include a managed amenity stack (LA Fitness in Building 201 P1, Urban Plates, Dunkin, CitiBank, EV charging, Lazaro Auto Detailing, Royal Shoe Shine), three third-party tenant portals (Prism/Building Engines for building operations, Genea for energy management, and Massey for training), and a formalized Tenant Experience Program that runs a recurring events calendar, monthly newsletter, fitness programming, food events, charity drives, and a loyalty layer branded PASARROYO Bee's.

The business operates as a property rather than a technology company, with leasing fully outsourced to Colliers International (four named brokers handle tenant acquisition and lease negotiation) and day-to-day property management delegated to Avison Young (on-site management office at 225 South Lake Avenue, Suite 110). The website is operated by Asenka (asenka.com), which appears to function as the overarching management/ownership entity. Revenue is generated primarily through annual commercial lease subscriptions on a custom-quote basis (rates depend on building, suite, floor, and term length) supplemented by transaction-fee event rental income at The Gathering.

The target customer is commercial office tenants — businesses and organizations seeking professionally managed office space in the Pasadena/South Lake Avenue corridor — with a secondary persona of tenant employees and visitors who consume on-site amenities. Headcount is reported at 1–10, consistent with a lean on-site management team that depends on Colliers and Avison Young for the bulk of leasing and operations work. The asset carries no disclosed parent company, no funding history, and no public ownership signals beyond the website copyright held by Asenka.

Name

PASARROYO

Legal name

PASARROYO

Website

https://pasarroyo.com

Company type

Private

Operating status

Operating

Headcount range

1–10 employees

Short description

PASARROYO is a three-building Class A commercial office complex on South Lake Avenue in Pasadena, California, offering multi-tenant office leasing, Industrious coworking, and The Gathering event venue, with leasing brokered by Colliers and property management handled by Avison Young under Asenka.

Ownership category

akta.pro rank

Headquarters

HQ city

Pasadena

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Commercial Office Space Leasing: Revenue generated from leasing office space across three buildings (201, 225, 251 South Lake Avenue) to commercial tenants in Pasadena, California.
2. Conference & Event Center Rental: The Gathering Conference & Event Center generates revenue from hosting corporate events, conferences, and gatherings in their designated spaces.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

PASARROYO is a Class A mixed-use commercial real estate complex on South Lake Avenue in Pasadena, California, comprising three office buildings (201, 225, and 251) that it leases to commercial tenants. In addition to traditional office leasing, the property operates The Gathering Conference & Event Center for corporate events and gatherings and offers coworking space through a partnership with Industrious, supported by on-site amenities and a structured Tenant Experience Program.

Product overview

PASARROYO is a mixed-use commercial real estate complex in Pasadena, California, consisting of three office buildings (201, 225, and 251) on South Lake Avenue. The property offers traditional office leasing alongside flexible coworking options through its Industrious partnership, event venues including The Gathering Conference & Event Center, and a central Plaza for community programming. The Tenant Experience Program provides ongoing wellness, fitness, food, and community engagement activities for tenants. Building amenities include fitness facilities, restaurants, financial services, auto detailing, and shoe shine services, supported by tenant portals for building management and energy services.

Differentiator

Problem solved

Functional benefit

Brands

• The Gathering Conference & Event Center: Conference and event center space located at PASARROYO
• The Plaza
• PASARROYO Bee's

Products and services

• Building 201 Office Leasing Leasable commercial office space within Building 201 located at 201 South Lake Avenue, Pasadena, CA. Targeted at businesses seeking office space in the South Lake Avenue corridor, with on-site amenities and access to the property's Tenant Experience Program.
• Building 225 Office Leasing Leasable commercial office space within Building 225 located at 225 South Lake Avenue, Pasadena, CA. Includes lobby donation bins for tenant community events and serves as the location of the on-site management office.
• Building 251 Office Leasing Leasable commercial office space within Building 251 located at 251 South Lake Avenue, Pasadena, CA. Houses The Gathering Conference & Event Center, Industrious Coworking space, and provides access to The Plaza for community programming.
• The Gathering Conference & Event Center Conference and event facility located at Building 251 within the PASARROYO complex. Available to PASARROYO tenants and external clients for corporate events, meetings, conferences, and community gatherings. Generates revenue through venue rental fees.
• Building Amenities Package Bundled on-site and nearby amenities provided to PASARROYO tenants, including CitiBank, Dunkin, Urban Plates, LA Fitness, The Gathering Conference Facility, Lazaro Auto Detailing, Royal Shoe Shine Service, and EV charging stations. Supports tenant convenience, retention, and a professional work environment.
• Industrious Coworking (on-site coworking space) Third-party-operated flexible coworking space at 251 South Lake Avenue, Suite 800, within the PASARROYO complex. Provides flexible workspace solutions for tenants and visitors.

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature1 record

Partnerships

Five partnerships are on record, tiered core and minor.

• Avison YoungcoreImplementation/ SI/ Consulting PartnerAvison Young provides comprehensive property management services for PASARROYO. Their management office is located at 225 South Lake Avenue, Suite 110, Pasadena, CA. They handle day-to-day operations, tenant communications, and property administration.
• CollierscoreChannel Partner/ Reseller/ DistributorColliers is the commercial real estate brokerage handling all office leasing for PASARROYO. They manage tenant acquisition and lease negotiations for the three office buildings.
• LA FitnessminorOthersLA Fitness operates a health club facility in the 201 Building P1 level, providing fitness amenities to PASARROYO tenants and their employees.
• The Gathering Conference & Event CentercoreOthersThe Gathering is an on-site conference and event center at PASARROYO that hosts corporate events, meetings, and community gatherings. Available to tenants and external clients.
• AsenkacoreImplementation/ SI/ Consulting PartnerAsenka is identified as the management company for PASARROYO, handling overall property operations and administration.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

Emerging players

• Industrious: Industrious is a premium flexible workspace provider that operates coworking space at PASARROYO's Building 251. While a tenant/partner rather than a direct competitor, its flexible workspace model intersects with the broader office leasing market PASARROYO serves.

Direct peers

• Highwoods Properties: Highwoods Properties is an office REIT operating Class A office properties primarily in the Southeast. Similar in its focus on Class A office product and tenant amenity programs, though its geographic focus is different from PASARROYO's Pasadena location.
• Kilroy Realty Corporation: Kilroy Realty is a publicly traded office REIT focused on Class A office properties in the West Coast, including Los Angeles and surrounding submarkets. Most directly comparable to PASARROYO given its emphasis on premium West Coast Class A office product in established submarkets.
• Empire State Realty Trust: Empire State Realty Trust owns and operates a portfolio of office and retail properties, including the Empire State Building. Its Class A office focus with strong tenant amenity programs (including observatories, fitness, and retail) is comparable to PASARROYO's amenity-rich approach.
• Douglas Emmett, Inc. Douglas Emmett owns and operates a portfolio of Class A office and multifamily properties concentrated in Los Angeles and Honolulu submarkets, including areas near Pasadena. Its West LA-focused office strategy and amenity-driven positioning are highly analogous to PASARROYO.
• Hudson Pacific Properties: Hudson Pacific is an office and studio REIT with significant Los Angeles exposure, operating premium office properties in similar West Coast urban and suburban submarkets. Comparable to PASARROYO's Class A office positioning in Southern California.
• Cousins Properties Incorporated: Cousins Properties is an office REIT focused on Class A office properties in high-growth Sun Belt markets with strong amenity offerings. Comparable in its focus on premium, well-located Class A office product with strong tenant experience programs.
• Boston Properties, Inc. Boston Properties is one of the largest publicly traded office REITs, focused on premier Class A office in select markets. While primarily East Coast and Northern California, its focus on premium, amenitized Class A product is directly comparable to PASARROYO's positioning.

Broad incumbents

• JLL (Jones Lang LaSalle): JLL is a global commercial real estate services firm providing property management, leasing, and investment services. As a broad incumbent competing with PASARROYO's management and brokerage partners (Colliers, Avison Young), it is comparable as a peer in the CRE services ecosystem supporting Class A office assets.
• CBRE Group, Inc. CBRE is the world's largest commercial real estate services firm, offering property management, leasing, and investment sales across all property types. As a broad incumbent in CRE services, it competes with the firms (Colliers, Avison Young) managing PASARROYO and operates in the same Pasadena/South Lake submarket.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/profile.php
• LinkedInlinkedin.com/company/pasarroyo

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PASARROYO