Amazon has made a significant deal in Pasadena commercial real estate, paying $79 million for an industrial property. This transaction underscores the tech giant’s growing footprint in southern California as the sale more than doubled the building’s value in just four years. The seller — El Segundo, Calif.-based Alvarez & Marsal Capital Real Estate — achieved a massive gain of around 139% from the sale after purchasing the property from Graymark Capital in early 2021 for only $33 million, according to property records. At approximately $469 per square foot, the price represents a substantial premium for flex industrial space.