Avison Young helps Pasadena VR/AR AI Startup double in size

Virtualitics is a startup that provides data visualization in virtual reality and augmented reality environments. It built the first platform to merge artificial intelligence, big data and virtual/augmented reality, enabling next generation data analytics that allow its users to visualize and understand data like never before. Its founders attended nearby Cal Tech.

Avison Young’s Ted Simpson and Blake Olson, tenant representation specialists in Pasadena, were engaged by Virtualitics to dispose of its current office lease - with two years remaining on it - and relocate to a more creative, innovative space closer to the employee friendly amenities of South Lake Avenue.

Simpson commented, “It is always exciting to sit with the visionary founders of a company like Virtualitics and chart their future growth path. It requires decades of experience working with similarly funded companies to navigate the goals of institutional landlords with heavy-handed credit requirements versus a startups’ need for quick decisions and strategy implementation.”

Simpson and Olson created a strategy and implemented a plan to mitigate the current lease obligation in order to capitalize and build upon the company’s momentum and locate a space that further enhanced Virtualitics’ culture.

The brokers located an off-market, occupied space on the ground floor of 225 South Lake Avenue at rental economics 30% below market. With high ceilings, lots of natural light, an office that opens up to the plaza, and steps away from the amenity filled Lake Avenue retail corridor – it is perfect for the energized startup atmosphere. And, unlike many VC funded companies, they did not have to post a letter of credit nor a personal guarantee. Virtualitics moves to its new home in May 2018.

For more information, contact:

Ted Simpson
Managing Director and Principal
213.471.7005
[email protected]