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$100M Creative Conversion of Northrop Grumman El Segundo Site
Los Angeles-based Hackman Capital Partners acquired a 30-acre commercial real estate property in El Segundo, CA from Northrop Grumman, and plans a $100-million renovation. The site is across from the Lakers’ new practice facility, and includes four industrial properties totaling 550,000 square feet slated for conversion into creative office space. Gensler is handling the makeover.
The defense contractor uses the 888 Douglas St. facility for research and manufacturing, and will move out by the end of the year. Construction is slated to commence in Q1 2018, with the first offices available in mid-2019 and final deliveries in 2020.
Falls Church, VA-based Northrop acquired the El Segundo properties in 1978. The oldest of the buildings, completed in 1930 and used as a bus manufacturing plant, was later an airplane manufacturing site. The building has 50-foot ceilings featuring slanted saw-toothed skylights. A smaller building is used for airplane testing, although others have classified uses.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

