JV Purchases 318,182 SF Office Building Near Los Angeles for $170M
EL SEGUNDO, CALIF. — A joint venture between OceanWest and Lionstone Partners has purchased 777 Aviation, an office campus located in El Segundo, approximately 15 miles southwest of downtown Los Angeles. Westbrook & Embarcadero Partners sold the asset for $170 million, or $535 per square foot.
Designed and constructed in 1968, the property features 318,182 square feet of office space, a three-story atrium with stadium seating and multiple gathering areas, on-site fitness center, indoor/outdoor conference rooms, flexible open floor plans, on-site café and outdoor areas.
Bob Safai, Matt Care and Brad Schlaak of Madison Partners represented both parties in the deal. The team also procured $114.1 million in financing for the buyer.