May 12, 2016
Boston-based Intercontinental Real Estate Corp. acquired Apollo at Rosecrans, a four-building creative office campus in El Segundo, CA. Atlanta-based Invesco Real Estate and El Segundo, CA-based Second Street Ventures sold the asset for reportedly north of $300 million. The recently renovated property, totaling 546,833 square feet of office space on more than 13 acres on the Rosecrans Corridor, is 98% leased.
Intercontinental’s Jessica Levin says the El Segundo market is quickly emerging as one of the growing tech hubs and premier creative entertainment centers in Los Angeles. Onsite amenities include a basketball court, dog park, biking and walking trails, an outdoor fire place, and a parking structure, delivering a work-play lifestyle environment for employees.
Newmark Grubb Knight Frank’s Kevin Shannon, and CBRE’s Bob Healey and Grafton Tanquary represented the sellers in the transaction.