CT Realty Adds El Segundo Complex to its Portfolio

NEWPORT BEACH, CA-CT Realty Corp., a real estate development and investment firm with a portfolio of assets in the suburban office, industrial and multifamily sectors, has purchased a 56,500-sf office complex in El Segundo from Eaton Corp. for $4 million.

Located at 2338 Alaska Ave., the complex presently consists of a one- and two-story office building, totaling 44,500 sf, with several smaller, one-story office buildings, totaling 12,000 sf, located on 3.12 acres. CT Realty plans to redevelop the site into a corporate office facility called Pacific Technology Center, with construction beginning next month. Vacco Industries currently occupies 100% of the corporate space, but will vacate the premises when its lease expires March 31.

CT Realty will invest $5.2 million to build the new space, which will be designed by Carter Group Architects Inc. of San Clemente. The new building, a 50,500-sf single-story structure, has a surface-level parking ratio of four cars per 1,000 sf and will accommodate one or two tenants. The shell of the current main building will remain, but the smaller building will be demolished to make room for the parking area.