Solomon comments that the sale of the property only a year afterthe previous deal "speaks to how strong the El Segundo submarketremains for class A assets."The four-story office project islocated in El Segundo's Superblock area and is directly adjacent tothe Toyota Training Facility, home to the Lakers basketball team,the Kings hockey team and the Los Angeles Sparks of the WNBA.

The L.A. Lakers Corp. has been headquartered at the propertysince 2004 and will remain in the building under terms of arecently renewed lease that expanded the Lakers from 6,000 sf to12,000 sf. Solomon represented both parties in that expansion,which was signed earlier this year.

The Grand Avenue Executive Center, designed by the architecturalfirm Nadel + Associates, features a two-story entrance clad inblack granite with each floor providing floor-to-ceiling views.Built in 2001 it is situated at the northwest corner of GrandAvenue and Nash in a business neighborhood that is home to a hostof class A office buildings that house major corporations such asBoeing, Oracle, Mattel and Teledyne. Among the selling points ofthe office properties in the area are the nearby amenities, whichinclude a variety of upscale hotels, shopping and restaurantslocated along the Rosecrans retail corridor, all within walkingdistance from the Grand Avenue building.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.