EL SEGUNDO, CA—Continental Development Corp.and Mar Ventures raised the walls yesterday of thefirst building at elevon, a $100 millioncreative office development in El Segundo withfor-sale units. The development will have 15 buildings uponcompletion in early 2015. For the remainder of the year, developerswill be titling the walls of the remaining 14 buildings.

“This was really our first opportunity to see the shape of thebuildings, as opposed to just seeing them on plans,” AllanMackenzie, Mar Ventures president, tells GlobeSt.com. “Itis exciting. We get comfortable with the design we selected, andusers are able to start visualizing the space better as soon as thewalls are tilted.”

The project broke ground in October of last year. Now, 20% of the property hasbeen leased to five separate users, according to Mackenzie. “We arepleased to have this level of activity before the walls are titled.We continue to believe in the viability of this unique concept ofbuying buildings and buying suites, and market indications arepositive.” The buyers already committed include the LosAngeles Lakers, who will purchase five acres on the campusfor the team's practice facility, league development team andbusiness operations.