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Boeing-leased El Segundo Property Sold for $51M
A two-building 200,220-square-foot office campus in Los Angeles’ El Segundo submarket has been sold for $50.8 million. Located on nearly six acres at 650 and 700 Pacific Coast Highway (PCH), Boeing leases the property in its entirety through the end of 2020.
NKF’s Kevin Shannon, Ken White and Michael Moore, along with CBRE’s Bill Bloodgood, represented the seller, an unnamed private family TIC (Tenant-in-Common). The buyer, New York-based Vella Group, was self-represented.
Shannon says, “This property has excellent street identity along PCH, an ideal location within the heart of the El Segundo market. That, combined with the tremendous tenant momentum in El Segundo, created an extremely desirable and competitive investment opportunity.”
Bloodgood added, “Once Boeing vacates the asset, the buyer intends on completely redeveloping and repositioning the property into a creative campus. The repositioning concept will be attractive to media, tech and entertainment tenants.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

