Sales Surging at $100M Elevon in El Segundo
Little more than a year after Continental Development and Mar Ventures began construction on the 210k SF creative office campus, the developers have more than two-thirds of the space sold or in escrow. We caught up with Continental SVP Alex Rose to give us the details.
Alex (here with wife and Moran and Co president Mary Ann King on 7th tee box at Pebble Beach) tells Bisnow the range of companies buying at elevon is quite broad. They include everything from software and media firms moving from Santa Monica, to advertising, real estate and professional services expanding and relocating within El Segundo and the other Beach Cities. Elevon has always been viewed as special, offering for-sale space.
Among the major tenants is digital production studio Big Block Media Investments, which is leaving about 8,200 SF in Santa Monica to buy 11,400 SF at elevon. Offices at the 15-building campus range from 2k SF to 28k SF and include opportunities to purchase entire buildings. The project is one of the reasons we told you El Segundo could be the next big thing and it's part of a $1B makeover for the area.
El Segundo as a whole has been surging for months. Bisnow exclusively told you last month about founder of international tech outfit RJT Compuquest and hotel operator Welcome Group Amar Shokeen buying a 2.6-acre parcel designated for future development at elevon. In addition, the LA Lakers are moving forward on the team's plan for an $80M training facility in El Segundo.
The project was master planned and designed by Ehrlich Architects and includes some hip design features, such as standing seam metal roofs and walls, wood elements and large glass openings. And in tech-forward fashion, the campus has tons of outdoor, wi-fi-enabled space.