A joint venture between AEW Capital Management and North Sea Capital Advisors has sold 101 PCH, a 200,000-square-foot creative campus in El Segundo, for $97.2 million. A partnership between a partnership of Nuveen Real Estate and Graymark Capital, purchased the property.

The property is 91% leased to four tenants with Infineon, a leading semiconductor manufacturer, occupying 67% of the property for its U.S. headquarters, and web hosting company DTI Services occupying 20%. AEW Capital Management and North Sea Capital Advisors had invested nearly $20 million in capital improvements for a major renovation of 101 PCH, transforming the three-story building into creative office. The project was led by North Sea Capital Advisors president Scott Burrin.

NKF's co-head of U.S. capital markets Kevin Shannon, executive managing directors Ken White and Rob Hannan, and senior managing directors Laura Stumm and Michael Moll represented the seller in the deal, while the buyer was self-represented.

Instant Insights /

101 PCH Creative Campus Trades for $97M

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