December 1, 2016 Comments Off on Lincoln-Rockwood Acquire Silicon Beach Mixed-Use Asset for $120M Views: 394 California News, Los Angeles, West

Lincoln-Rockwood Acquire Silicon Beach Mixed-Use Asset for $120M

Dallas-based Lincoln Property Co. partnered with an affiliate of New York-based Rockwood Capital, LLC to acquire Gateway El Segundo, a 355,000-square-foot office campus in El Segundo, CA from San Francisco-headquartered DivcoWest for a reported $120 million.

The campus includes three, 52%-leased, 3-story, Class B office buildings, two fully-leased, single-story retail buildings, as well as outdoor meeting spaces.

The new owners plan a multi-million-dollar renovation to transform the 9-acre property into a top-tier creative office campus by fall 2017. Planned upgrades include improving the central courtyard to create inviting spaces, modernizing the lobbies, restrooms and fitness center, and building spec suites for smaller creative tenants seeking move-in ready spaces.

The buyer and seller were self-represented.

Read more at Business Wire

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