Primer.ai

225 S Lake Ave, Pasadena, CA | 2,750 RSF

The Challenge

Primer.ai is a venture-funded AI company with a new CEO (at the time) and a growing team. Given the immediacy of the need for space, CREA needed to locate move-in ready “spec suites,” ideally, created by a deep-pocketed institutional landlord in Pasadena. 

Approach & Strategy

Working closely with the CEO and General Counsel, CREA toured several alternatives in Pasadena. Once the final building was selected, the CREA team crafted a transaction that allowed the client quick access to the space with concessions to offset the typical but, in this case, unnecessary tenant improvement allowance. For example, the landlord funded some of the furniture and computer cabling.

Client Results

The client benefited from a very tenant-favorable post-pandemic market by achieving the following:

• Below market rent

• Very little capital outlay

• Quick move in

• Short term lease

Also, the location provided walkable amenities, including a gym and numerous restaurants.