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2052 Century Park East The 71,493-square-foot property is fully occupied by Veolia.

LOS ANGELES—An unnamed investor is bringing a rare energy facility in Century City to market, GlobeSt.com has learned exclusively. Described as a legacy asset by brokers, the 71,493-square-foot property is fully occupied by water, waste and energy solutions firm Veolia, which has a 25-year lease in place. In addition to the property, the offering includes seven miles of subterranean multi-use infrastructure. While it is coming to market without a price, industry insiders peg the value at approximately $70 million.

“This is a legitimate world-class location with a guaranteed long-term revenue stream that is fully inflation hedged and backed by investment-grade corporate credit,” Geoffrey Kasselman, a broker at Newmark Grubb Knight Frank, tells GlobeSt.com. Plus the facility is ‘mission critical’ and impossible to replace including over 7 miles of subterranean infrastructure, and one day many years down the road the site may be ideally suited for higher-density development. Opportunities like this simply don’t come along very often.” Kasselman is leading the marketing efforts, along with Sean Fulp, David Colen and Scott Selke.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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