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Largest Office Lease Of The Year In El Segundo

Rendering of 777 Aviation in El Segundo

The Federal Aviation Administration signed a 15-year lease at 777 Aviation Blvd in El Segundo in a deal reportedly valued at more than $120M.

The lease is for 154k SF of office space in the 309k SF building, previously occupied by Xerox.

A JV between Embarcadero Capital Partners and Westbrook Partners owns the building, according to GlobeSt.

Safai sold the building to the owners last year. It was vacant at the time, but the new owners now aim to fill up the office space.

FAA's lease is reportedly the largest in LA. [GS]