Jones Lang LaSalle Inc.

02/21/2020 | Press release | Distributed by Public on 02/21/2020 15:41

Los Angeles-area office campus trades hands

LOS ANGELES, February 21, 2020 - JLL Capital Markets announced today that it has completed the sale of 1960 E. Grand Ave., a 260,000-square-foot office complex in El Segundo, California.

JLL represented the seller and procured the buyer, an undisclosed institutional investor.

1960 E. Grand Ave. consists of two parcels totaling 5.4 acres, which house a 12-story office building plus development potential to build up to 94,000 square feet of creative office or hotel space. The 79%-leased building features 21,500-square-foot floorplates, expansive window lines, parking for 926 vehicles, a fitness deck, communal outdoor work space and an upgraded plaza. Positioned in El Segundo's superblock, 1960 E. Grand Ave. is surrounded by an abundance of Fortune 500 companies as well as a wealth of amenities in Downtown El Segundo, Manhattan Village and The Point. Additionally, the property is two blocks east of the Metro Green Line and has excellent transit accessibility to LAX, just north of the property.

The JLL Capital Markets team representing the seller was led by Managing Directors Tom Bohlinger and Andrew Harper and Director Will Poulsen.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers best-in-class solutions for clients - whether investment advisory, debt placement, equity placement or recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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