LOS ANGELES-A 107,000-square-foot multi-tenant office building in El Segundo, CA has just changed hands, GlobeSt.com has exclusively learned. Newport Beach, CA-based Peregrine Realty Partners purchased the six-story building that is 100% leased.
Tenants at the building include the Aerospace Corp., Lockheed Martin, Honeywell, and Orbital Sciences. According to Peregrine, the property has “prominent identity” adjacent to the Los Angeles Air Force Base.
“The purchase of 2401 E. El Segundo Blvd. is an excellent opportunity for Peregrine to own a high quality asset with an excellent tenant roster that features very little near term rollover,” explains Ryan Smith, principal at Peregrine Realty Partners.
Smith tells GlobeSt.com that the seller could not be disclosed at this time. According to public records, in 2008, TA Realty was the buyer of the property for $24.5 million from Investment Development Services Inc.
The seller was represented by HFF and Colliers.
2401 E. El Segundo Boulevard is the eighth acquisition by Peregrine Realty Partners in
Southern California in the past 18 months, and puts Peregrine at over $100 million in acquisitions in the past 12 months.
In July, as GlobeSt.com reported, Peregrine recently purchased two class-A office properties totaling 153,029 square feet from an unnamed institutional owner for $28.5 million. 500 North Central Ave. and 501 North Orange St. in Glendale, CA represented the firm’s first venture into the Los Angeles County market, since most of the firm’s properties are located in San Diego County, principal Smith previously told GlobeSt.com.
© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to asset-and-logo-licensing@alm.com. For more inforrmation visit Asset & Logo Licensing.
