|
|
8/11/15
|
NY-based Tishman Speyer closed on an LA-area office buy, acquiring a 260k sf building in El Segundo. The single-story building, located at 555 S. Aviation Blvd, between El Segundo Blvd and Rosecrans Ave, was purchased from a private trust in a deal said to be worth around $45 mil, or $170/sf.
The building is strategically located within close proximity to I-405, the MTA Green Line stop, Los Angeles International Airport (LAX) and many outstanding dining, entertainment and shopping destinations. It is currently occupied by Xerox Corp, which is on a lease with about two years remaining.
Tishman Speyer plans to convert the existing building for creative office use and implement a multi-million dollar redevelopment plan to position it as a best-in-class creative office campus. On-site amenities will include a fitness center, café and bicycle storage, as well as lushly landscaped private outdoor tenant areas.
“This building is well situated and represents a rare opportunity to create a dynamic creative campus in the burgeoning South Bay area,” said Tishman Speyer Regional Managing Director Mark Laderman. “Our strategy will be to enliven and enhance the property with new on-site amenities and improvements, as an increasing number of tenants are seeking a working environment not found in traditional multi-story office buildings. We have great confidence in the South Bay office market as technology, fashion and media companies continue to expand here, and as the demand for creative office space increases.”
David Hasbrouck of Cushman & Wakefield represented the seller in the transaction.
|
|
 Return to the Archive page
|
|
|
|
|
Printer-friendly Version
Email an Associate
