Doheny Eye Institute Kicks Off Renovation of Los Angeles HQ
The company acquired the 123,203-square-foot building for nearly $50 million in 2017.
150 N. Orange Grove Blvd. Image courtesy of Doheny Eye Institute
Doheny Eye Institute has begun the interior build-construction and capital improvement plan on its future headquarters in Pasadena, California. The company will remodel the 123,203-square-foot property and convert it into a state-of-the-art vision research center and corporate offices.
The property will have large research laboratories and a conference center, where the company will host seminars, lectures and educational programs. The laboratories will be equipped to expedite research in several key areas, such as regenerative medicine, imaging diagnostics, gene-based therapies and artificial intelligence.
Located on 7 acres at 150 N. Orange Grove Blvd., the three-story building was completed in 1981 and renovated in 2013 and 2019, CommercialEdge shows. The property has three-passenger elevators and subterranean parking. The site is 11 miles northeast of downtown Los Angeles.
Doheny acquired the building in 2017, when SteelWave sold it for $49.7 million, according to CommercialEdge data. At the time, the firm announced plans to consolidate its operations at the site, bringing more than 250 employees under the same roof.
In April, a partnership between Colony Capital and SteelWave sold a 158,885-square-foot office asset in Thousand Oaks, Calif., for $21.6 million. TriStar Realty Group purchased the five-story building.
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