EL SEGUNDO, CA-A joint venture between Continental Development Corp. and Mar Ventures have revealed plans to develop an office campus with 15 buildings. Dubbed elevon, the project will accommodate the growing demand in the South Bay for creative office, featuring 210,000-square-feet of creative office space and 13,500 square-feet of retail space.
“The region continues to transform into a hub for creativity and innovation,” says Steve Solomon of Jones Lang LaSalle, who, along with Carl Muhlstein, is leading marketing efforts for the development. “elevon will provide companies the rare opportunity to take full control over their own space in the new El Segundo.”
Creative office elements resound in each building with ample natural light, concrete floors and high ceilings as well as roll-up doors and private patios that intermix indoor and outdoor spaces. On the greater campus, outdoor common spaces encourage gathering and complete mobility through a wifi park, collaborative out door workspaces and covered meeting areas. Workers can also take a break for a game in the bocce ball court.
Developers expect to begin construction next month on the yearlong project. Once complete, the 15 for-sale buildings will range in size from 8,000 to 27,000 square feet with build-to-suit options ranging in size from 50,000 to 750,000 square feet.
With multifamily moving into the spotlight, development for office has been less active. There have however been a handful of value-add transactions reported by GlobeSt.com recently, including Atlantic Pearl Investments‘ acquisition of 1990 Westwood Blvd for $12 million.
GlobeSt.com plans to update this article once information from the developer becomes available.