The Greenbridge churn

The Altadena and Pasadena business community — and customers — are seeing some changes after Beverly Hills-based Greenbridge Investment Partners is making its move on some key properties in the area   — changes that in many cases are making long-term businesses move from Pasadena to Altadena and vice-versa.

Greenbridge acquired the Webster’s building at 2450 N. Lake Avenue in Altadena in 2013.  The property group had previously acquired the Washington Hill building and the Nelson building at the northwest and southwest corners of Hill Avenue and Washington Boulevard in Pasadena.

All buildings were notable for having long-time tenants, familiar to area residents.  The Webster’s building in particular housed Webster-family businesses through most of the 20th Century.

But in the past few months, there’s been some churn as old tenants are moving out and new ones are moving in.  Some former tenants have told AltadenaPoint that Greenbridge significantly raised its rents after acquiring the properties, forcing them to move elsewhere — sometimes from Hill and Washington to a location in Altadena.

In the Webster’s building, all tenants except Webster’s Community Pharmacy were cleared out.  The Daz-E Shop, a recent tenant, moved out of the place formerly occupied by a Webster family store to the 2525 N. Lake Avenue building, occupying the space formerly housing Sue B. Dance Studio.  Webster’s Fine Stationers has moved across town and rebranded as Hoopla at 2591 N. Fair Oaks Avenue.  The pharmacy, which was purchased from the Webster family by Michael and Meredith Miller (who formerly owned the Fair Oaks Pharmacy in South Pasadena) has a lease that will keep them in that location for awhile.  In fact, the Millers have leased the spot next door, formerly Webster’s Liquors, to open another business, the nature of which has not been publicly revealed.

Meanwhile, there’s a lot of Pasadena/Altadena movement going on at the Washington and Hill location. Angel Moments, which deals in New Age gifts and children’s snow clothing, moved from Hill Street to 2285 N. Lake Avenue about a year ago.  Freddie’s Antiques, which also was on Hill Street, will be moving to the Angel Moments location by the end of August.  A business on the Washington side, florist Mary Falkingham, has moved to the Galloway Building in Altadena at the corner of Lake and Mariposa, claiming rising rents forced the move.

Taking over her old spot will be Scissors/Paper/Rock Salon, which is currently near the corner of Allen Avenue and New York Drive.  Salon owner Yolande Carson said that she plans to move in by Sept. 1.

Other new businesses that have moved in to the Hill Washington building include a children’s clothing store and Lavender and Honey Espresso Bar.

Across the street, in the Nelson building, the largest tenant, Archives theological bookstore, has already decamped to Fuller Theological Seminary and the space remains vacant.  Currently, the cookbook store  next door is having a pre-moving sale and the Lebanese Kitchen restaurant has moved out.  A sign in front of the restaurant location says that the new tenant will be Bacchus, a restaurant that will be overseen by local high-profile chef Claud Beltran, who has been at Noir and currently runs Claud and Company in Pasadena.

UPDATE 8/13/14:  Another casualty of higher rents at the Washington Hill building was the League of Women Voters, which has moved to the Western Justice Center (h/t Marge Nichols).