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December 15, 2017 Comments Off on El Segundo Creative Office Campus Sold for $117M Views: 2798 California News, Los Angeles

El Segundo Creative Office Campus Sold for $117M

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NKF Capital Markets handled the $117.1-million sale of Campus 2100, a core, class A creative office campus in El Segundo, CA. The property encompasses three buildings across 203,946 square feet of space at 2100 to 2150 East Grand Ave.

The transaction, at $575-per-square-foot, represents the second highest per-square-foot office sale in El Segundo. Recently, Thai Union North America, Inc. leased a 33,085-square-foot building, bringing the campus to 94% occupancy.

 NKF Capital Markets’ Kevin Shannon, Ken White, Rob Hannan, Michael Moll and Laura Stumm represented the sellers, Rockwood Capital and Marshall Property and Development. The NKF team also represented the buyer, Deutsche Asset & Wealth Management.

Shannon says “The property’s strong in-place cash flow provides long-term upside with a weighted average remaining lease term of approximately 5.5 years, and in-place rents that are more than 15% below current market rates.

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