Today, Fuller Theological Seminary announced the successful sale of 250 N. Madison, marking a transformative chapter for the community. This pivotal moment signifies not only a change in property ownership but also reflects Fuller’s commitment to fostering positive growth within the Pasadena community.
A prominent and forward-thinking company is set to become the occupants of 250 Madison, igniting a wave of promising developments. The goal is to turn the building into a state of the art office building that will house about 250 professionals generating job opportunities and revitalizing the surrounding area. With renovation plans already in motion, the property is poised for a transformation that combines modern functionality with aesthetic appeal, enhancing both its value and contribution to the neighborhood’s economic vibrancy.
The decision to sell 250 Madison was thoughtfully driven by Fuller’s evolving educational landscape, which adapted in response to the dynamic demands brought on by the Covid-19 pandemic. As the world adapted to new realities, Fuller underwent a significant transition, embracing remote work and witnessing a shift in online and hybrid courses. This strategic shift led to the consolidation of resources onto Fuller’s main core campus and a deliberate choice to divest from the predominantly vacant 250 Madison property.
Ray Asad, CFO of Fuller Theological Seminary, underscored the rationale behind the sale, affirming, “While Fuller is here to stay in Pasadena, we recognized the opportunity to rejuvenate this property, and through this strategic move, we aim to catalyze a positive impact within our community.”