June 27, 2019
A joint venture between OceanWest and Lionstone Partners purchased 777 Aviation in El Segundo, CA for $170 million or $535-per-square-foot. The three-story, Class A, creative office building totals 318,182 square feet and was sold by Westbrook & Embarcadero Partners.
Madison Partners’ Bob Safai, Matt Case, and Brad Schlaak represented the parties in the transaction, and procured financing for the buyer in the amount of $114,125,000. This sale marks the third time Madison Partners has sold the building.
777 Aviation Boulevard is an architecturally significant office campus. Originally designed in 1968 by influential Los Angeles modernist architect Craig Ellwood, the property has been completely renovated and transformed into a one-of-a-kind, stunning modern office environment. That includes a sweeping three-story atrium with stadium seating and multiple gathering areas, on-site fitness center, indoor/outdoor conference rooms, flexible open floor plates, on-site café, and generously appointed outdoor areas.
Connect Bay Area is coming up July 18, 2019 at the Grand Hyatt San Francisco. Get more information, and register to attend on this link.
For comments, questions or concerns, please contact Dennis Kaiser