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5/12/16
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The U.S. General Services Administration has inked a lease for 154k sf of space in El Segundo on behalf of a sophisticated, technology-oriented federal agency (probably not the IRS). The deal accounts for just under half of the building at 777 South Aviation Blvd, west of the 405 Fwy and north of Rosecrans Ave. Terms of the lease were not disclosed.
Originally designed by celebrated Los Angeles modernist architect Craig Ellwood, 777 Aviation is a striking Class A office building built in 1968. The elegant, three-story, 309k sf glass and steel structure typifies Ellwood’s iconic design aesthetic which fused the formalism of Mies van der Rohe with the informal style of California modernism.
The building is owned by Embarcadero Capital Partners and Westbrook Partners, who acquired the asset in 2015 with the vision of transforming the unique property into an amenity-rich, multi-tenant campus which would appeal to modern tenants, particularly those in the tech sector, and would allow the partnership to capitalize on the momentum of the thriving West Los Angeles market.
The owners are planning extensive renovations designed to convert the property into sought after creative office space. The work is expected to commence later this month.
To maximize the opportunity to deliver the most desirable product possible to the market, the partnership commissioned renowned architects Skidmore, Owings & Merrill LLP (SOM). They tasked the design team with blurring the boundaries between indoors and outdoors and with bringing daylight into building without losing leasable square footage. The partnership also charged the designers with taking full advantage of the building’s generous floor plates to offer opportunities for large, open and creative workspaces.
The design incorporates a soaring new atrium with circular skylights that will illuminate the surrounding offices, which have expansive windows that look into the 96-foot long by 48-foot wide atrium space. The skylights will also disperse light across a new 40-foot wide stadium stair designed to accommodate small and large group assemblies.
The design also adds high-quality building amenities including an on-site café, a fitness facility with locker room and showers, and Wi-Fi enabled common areas. Other key core and shell renovations feature a welcoming new front entrance, upgraded glazing throughout the building and new restrooms. Additionally, new building systems will be installed including mechanical, electrical, plumbing, HVAC, elevators and data infrastructure. Core and shell construction is slated for completion in April 2017.
To reinvent the property into a campus-like atmosphere that activates the entire site, LRM Landscape Architecture was hired to transform the outdated grounds into new creative and collaborative areas. The new landscape design will incorporate an existing historically significant sculpture created by famed artist George Sugarman in 1969. The work, entitled “Yellow to White to Blue and Black,” is widely known and highly regarded among modern art aficionados as an example of Sugarman’s pioneering of fabricated steel, pedestal-free sculptures and his fresh experimental approach. Additionally, the grounds will feature several outdoor meeting spaces, fire pits, a dog park, bike sharing facilities and food truck stations.
Beth Peterson, Director of Leasing at Embarcadero Capital Partners will oversee leasing on behalf of the partnership. Tony Ranger and Joe King of Madison Partners have also been retained by the partnership to assist with leasing.
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