EL SEGUNDO, CALIF. — Tishman Speyer has completed the disposition of 555 Aviation, an office building located within a creative office campus in El Segundo. An undisclosed buyer acquired the asset for $205.5 million.
Kevin Donner, Doug Harmon, Ben Lushing, David Hasbrouck, Ben Cooper and Lars Platt of Cushman & Wakefield represented the seller in the deal.
Belkin International, Publicis and Fabletics fully occupy the 259,754-square-foot, low-rise property. The tenants have a weighted average lease term of approximately nine years.
Tishman Speyer acquired the asset in 2015 for $45 million with the intent to convert the single-story distribution and repair facility into a creative office environment. After its sole user, Xerox, vacated the building in 2017, Tishman Speyer implemented a $44 million reinvention program that transformed the property light-filled spaces accented by large windows, a fitness center, café and multiple outdoor gathering areas.