New York–based Deutsche Asset & Wealth Management has acquired Campus 2100 in El Segundo for $117 million, or about $574 per square foot, according to CoStar Group Inc.
The 94 percent-occupied Class A creative office campus at 2100 E. Grand Ave. is composed of three buildings totaling nearly 204,000 square feet, according to New York-based firm Newmark Knight Frank, which brokered the sale on behalf of the sellers, joint-venture partner Rockwood Capital of New York and Marshall Property and Development of Newport Beach. The transaction represents the second highest per-square-foot office sale in El Segundo, according to Newmark.
NKF Capital Markets West Coast President Kevin Shannon, Executive Managing Director Ken White, Senior Managing Director Rob Hannan, and Managing Directors Michael Moll and Laura Stumm represented the sellers.
“There’s been a lot of trading in El Segundo this year, but nothing close to this quality has traded,” Shannon said in an interview with the Business Journal.
Campus 2100, built in 1981, recently underwent a conversion to creative office, according to NKF. The property is currently leased to 11 tenants and is located near the Metro Green Line, and the 405, 105, 110, 710 and 91 freeways.
Real estate reporter Neil Nisperos can be reached at firstname.lastname@example.org. Follow him on Twitter @ReporterNeil for the latest in L.A. real estate news.