REBusinessOnline

Vella Group Acquires Boeing-Leased Office Asset Near Los Angeles for $50.8M

650-700-Pacific-Coast-Highway-El-Segundo-CA

Boeing occupies the two-building, 200,220-square-foot office campus in El Segundo, Calif.

EL SEGUNDO, CALIF. — New York-based Vella Group has purchased a two-building office campus, located at 650 and 700 Pacific Coast Highway in El Segundo. A private family tenant-in-common sold the asset for $50.8 million.

The eight-story property at 650 Pacific Coast Highway, built in 1962, features 121,484 square feet. The two-story building at 700 Pacific Coast Highway features 78,736 square feet. The site also includes 422 surface parking spaces.

Boeing will occupy the entire 200,220-square-foot office campus through the end of 2020.

Kevin Shannon, Ken White and Michael Moore of Newmark Knight Frank, along with Bill Bloodgood of CBRE, represented the seller, while Antony Arkle of Rodeo Realty represented the buyer in the transaction.

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