California CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Nuveen JV Nabs El Segundo Asset from AEW JV for Nearly $100M
Nuveen Real Estate and Graymark Capital acquired 101 PCH, a 200,967-square-foot, low-rise, creative office building in El Segundo, CA for $97.15 million. The seller was a JV of AEW Capital Management and North Sea Capital Advisors.
Built in 1984 and situated on 2.9 acres at 101 Pacific Coast Hwy., the asset is 91% leased to four tenants. Infineon occupies 67% of the property as its U.S. HQ, and DTI Services occupies 20%. Over the past three years, the seller invested nearly $20 million in capital improvements, transforming the three-story building into creative office.
NKF’s Kevin Shannon, Ken White, Rob Hannan, Laura Stumm and Michael Moll represented the seller. The buyer was self-represented.
Shannon added, “AEW and North Sea Capital Advisors executed a tremendous repositioning of 101 PCH in El Segundo, one of Los Angeles’ hottest markets. Rents in this market have accelerated more than 50% over the last five years, largely driven by the repositioning and value-add initiatives of assets like 101 PCH.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition


