LAKERS TO BUY SPACE AT FUTURE ELEVON DEVELOPMENT IN EL SEGUNDO

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EL SEGUNDO, CALIF. — The Los Angeles Lakers have agreed to purchase an undeveloped five-acre parcel within the Elevon at Campus El Segundo development. The purchase price was not disclosed. The site is located at the northwest corner of Mariposa Avenue and Douglas Street in the Los Angeles submarket of El Segundo.

The site will be the future training center for the Lakers and its Development League team, the Los Angeles D-Fenders. The facility will also house the teams’ business operations.

Elevon will be a 15-building office campus with about 210,000 square feet of for-sale creative office buildings. It will also feature 13,500 square feet of leasable dining and retail space.

Elevon is located within Campus El Segundo, a 46.5-acre, mixed-use property. It is situated less than a block from the 405 and 105 freeways.

The new project began construction this past November. It is slated for completion in the fourth quarter of this year. The project will reportedly cost $97 million.

Elevon is being developed by Continental Development Corporation and its partner, Mar Ventures Inc. CBRE’s Bill Bloodgood and Bob Healey will handle the office sales, while JLL’s Steve Solomon and Carl Muhlstein will oversee build-to-suit opportunities.

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