December 3, 2019 Comments (0) Views: 432 California News, Los Angeles, Top California

SteelWave Acquires El Segundo Office Building for Nearly $64M

SteelWave has acquired a 151,000-square-foot El Segundo office building at 2160 Grand Ave. for $63.5 million (or $420-per-square-foot) from Griffin Capital Essential Asset REIT.

NKF Capital Markets handled the sale, with team leaders Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Moll on point, and NKF’s South Bay market specialists Eric Lastition and Geoff Ludwig providing local market intelligence.

NKF says access to Metro’s Green Line, the 105/405 freeways, open floor plates and abundant natural light make the asset prime for a creative office repositioning play.

“Steelwave has a tremendous opportunity to reposition 2160 Grand into one of El Segundo’s and the lower Westside’s premier creative office settings. The asset has fantastic physical qualities that provide an amazing canvas to activate superb indoor and outdoor areas that will no doubt help attract and capture the tenants proliferating the market,” said NKF’s Stumm.

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