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Tishman Speyer Collects $205 Mil from El Segundo Office Sale

6/28/22

In a major office trade out of L.A.’s South Bay region, Tishman Speyer collected $205.5 mil from the sale of 555 Aviation, a 259.8k sf ($791/sf), low-rise office building in El Segundo that is 100% leased to Saatchi & Saatchi, Belkin and Fabletics. According to industry sources, the buyer was an entity of FS Credit Real Estate Income Trust.

Tishman Speyer acquired the asset in 2015. At the time it was occupied by Xerox, but after the firm left in 2017, Tishman Speyer renovated the building into its current upscale, creative office use. The property’s highly amenitized space features desirable indoor / outdoor components, including a state-of-the-art fitness center, coffee shop, outdoor lounge areas with fire features, bike storage and ample parking.

The building, located at 555 Aviation, south of El Segundo Blvd, is near Interstates 405 and 105, allowing for an easy commute to the surrounding Westside and South Bay communities. A short walk from the Rosecrans retail corridor, the property is surrounded by an array of retail, dining and entertainment options.

Cushman & Wakefield’s Kevin Donner, Doug Harmon, Ben Lushing, David Hasbrouck, Ben Cooper, and Lars Platt represented Tishman Speyer in the transaction. The purchase was financed with a $126.7 mil acquisition from Natixis Corporate & Investment Banking.

El Segundo has seen tremendous demand as the Los Angeles market continues to experience major growth with over 3.8 msf of new office product under construction and over 3.2 msf of new deals being signed this year according to Cushman & Wakefield.




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