LOS ANGELES—The Lakers have purchased a five-acre land parcel from Continental Construction Corp. and Mar Ventures at the Elevon at Campus El Segundo development. The Lakers plan to build its new headquarters office on the site, which will include a practice facility, a 750-seat exhibition court and offices on the property. The sales price and terms of the transaction were not disclosed.
“With its proximity to the airport and beaches, clean air, diverse businesses, and wonderful community, El Segundo is the perfect place for us to be,” Jeanie Buss, president and co-owner of the team, tells GlobeSt.com. “We've been here for the past 15 years with great success, and we're thrilled to secure the perfect spot to expand on that success and remain for many years as a part of this vibrant and growing area.”
The facility will be home to the Los Angeles D-Fenders of the NBA's Development League, and will serve as that team's home exhibition court. Morley Builders is constructing the property and ROSETTI has been hired to design the project. It is expected to be completed in 2017.
Elevon at Campus El Segundo is a $100 million creative office development with 15 buildings that total 210,000 square feet. The property broke ground in October 2014 and is expected to open later this year.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.