October 20, 2015
Roxborough Fund I, a joint venture between The Roxborough Group and Montana Avenue Capital Partners, has acquired 1700 East Walnut Avenue in El Segundo, and the team plans to reposition the property.
At six stories and 119,484 square feet, the building is already reportedly 99 percent leased. Improvements are being driven by tenants’ requests for creative-office space. Roxborough Fund I plans to expand and renovate common areas, overhaul the lobby and entrance and make other improvements.
The buyers were attracted to the property because of its proximity to LAX, Manhattan Beach, and Hermosa Beach as well as its convenient access to public transportation. El Segundo is also a burgeoning tech and media area, and there are several retail and hotel properties nearby in which tenants, and their clients, can take advantage.