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El Segundo Creative Office Building Sells for $27M
BLT Enterprises has purchased a two-story, 49,000-square-foot office building on Hawaii Street in El Segundo, CA. Newmark arranged the $27 million transaction, representing the seller, Montana Avenue Capital Partners.
“The South Bay, and El Segundo in particular, continues to be where many LA investors want to invest post-COVID,” said Newmark’s Sean Fulp, who facilitated the deal along with Ryan Plummer, Mark Schuessler and Geoff Ludwig. “More so, the tenant’s credit and industry along with the building’s low-rise profile and creative interior generated very strong interest.”
The property is fully leased to Nexon America, Inc., and serves as the North American headquarters for Nexon Company, South Korea’s largest video game developer.
BLT Enterprises Robert Solomon said, “BLT Enterprises has invested in El Segundo for over 20 years, and is thrilled to add this highly functional building to it’s three-million-square-foot Southern California portfolio.
Photo courtesy of Joe Chung Photography
- ◦Sale/Acquisition
