Hawthorne’s renaissance continues unabated as the home to Elon Musk’s SpaceX saw eight industrial properties sold to Terreno Realty Corp. for $27.6 million.
Hawthorne Business Park, located at 3355 to 3437 W. El Segundo Blvd., consists of eight buildings for a total of 152,000 square feet on nearly seven acres.
The property contains 225 parking spots, 10 dock-high and 29 grade-level loading positions, and is located adjacent to the 105 freeway, about three miles east of Los Angeles International Airport. Hawthorne Business Park currently is leased to 19 tenants, four of whom are month-to-month.
JLL's Luke Staubitz, Harvey Beesen, and Andrew Dilfer represented the seller, El Segundo/Yukon Partners and FNL/Hawthorne Partners.
Terreno Realty shares fell 1.3 percent to $34.97 per share on Thursday.
Home to Tesla Motors as well as SpaceX, Hawthorne has been seen as an increasingly desirable spot for businesses, professionals and renters priced out of El Segundo, Venice, and elsewhere.
Ciaran McEvoy can be reached at firstname.lastname@example.org