Cushman & Wakefield Represents Seller in SoCal Transaction
LOS ANGELES, Calif. – Cushman & Wakefield announced today that V.C.I. Corporation has successfully completed the disposition of a 157,225 square foot Class A office property in El Segundo, Calif. for $52 million in an off market transaction. The building located at 2300 E. Imperial Avenue was vacant at the time of sale. Chris Sinfield and Tom Sheets with Cushman & Wakefield’s Los Angeles South Bay office represented the seller in the transaction.
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Mr. Sinfield, an Executive Director with Cushman & Wakefield, said, “2300 Imperial represents one of the largest blocks of Class A office space in the market and is well suited for the next generation office user. The building provides excellent identity, visibility and accessibility and is well positioned within the exceptional El Segundo business environment.” |
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2300 E. Imperial Avenue is a seven-story Class A building situated on 4.57 acres initially constructed in 1964 and renovated in 2000 with new common areas and parking structure. The building features efficient floor plates, creative space, and some of the most dynamic airport views in Los Angeles. Located adjacent to Los Angeles International Airport (LAX), the building lies near several retail, dining, financial and professional services amenities, and provides excellent access to the 105, 405 and 110 freeways. |
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Mr. Sheets added, “El Segundo is an in-demand corporate location and finished as one of the top-performing office submarkets in Greater Los Angeles (GLA) with over 1 million square feet of leasing activity resulting in over 200,000 square feet of occupancy growth in 2016.” He added, “Vacancy in this submarket has fallen below 13 percent, down from over 18 percent two years ago and just below GLA’s recent regional average of 14.1 percent, according to Cushman & Wakefield’s latest market reports.”
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To access a high resolution photo of 2300 E. Imperial, click here. |
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.
Media Contact:
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Joshua Deale |
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Cushman & Wakefield |
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PR, Marketing and Communications |
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+1 213 629 7321 |