Offers Due 5/19
Newmark, as exclusive advisor, is pleased to present the opportunity to acquire the fee-simple interest 1960 E Grand (the “Property”)—a 260,603-square-foot Class A office campus located in El Segundo, California—one of LA’s most exciting coastal office leasing nodes. The Property has recently undergone a multi-million dollar capital renovation further enhancing the institutional quality of the asset while offering tenants a highly amenitized work environment in a unique park-like campus setting.
The Property is 79% leased with 3.3 years of WALT and represents a rare value-add opportunity to acquire a creatively repositioned Class A office campus at an attractive reset basis with strong in-place cashflow. Driven by its proximity to LAX, coastal climate, and concentration of major toy companies including Mattel’s world headquarters, the El Segundo market has become the destination for one of the most significant toy conventions in the world which has contributed to approximately 85,000 SF of toy showroom leases at the property over the last three years.
Situated on 5.4 acres of land, the Property includes additional FAR which allows for the potential office or hotel development of up to 94,000 SF.