VITAL STATISTICS
CHARGER FOOTBALL HEADQUARTERS
2000 East El Segundo Blvd., El Segundo
Square Footage: 150,000
Deal Value: $533,712,216 (Lease Total Consideration);
$275 million (total cost of project)
CBRE’s Phillip Ruhl and partner John Zanetos were tasked with the challenging assignment of finding a headquarters site that could accommodate a 150,000 square foot facility with three adjacent football fields. They needed to find 15 acres in Los Angeles, which is incredibly rare to come across, especially since most developers with that amount of land plan on building commercial buildings, and not three football fields.
Ruhl and team looked at dozens and dozens of potential areas and sites, from Orange County to Carson to the City of Los Angeles and Woodlands Hills. Ultimately, they decided on El Segundo, which has become the hub for several professional sports teams, including the LA Lakers and LA Kings. The proximity to the new SoFi stadium and LAX airport addressed logistics requirements. El Segundo also neighbors some of the best residential communities in Southern California.
This deal allows for the Chargers to build a state-of-the-art facility for generations to come, while fully planting their flag in Los Angeles, a vital step to further integrate the organization into the community. On top of that, the facility will be used year-round for community and fan engagement in addition to being the training facility for the players, a win-win for everyone.
VITAL STATISTICS
WESTERN ASSET PLAZA
385 E. Colorado Blvd., Pasadena
Square Footage: 184,581
Deal Value: $95,209,903 (total lease consideration)
CBRE’s Doug Marlow accomplished quite a feat on this transaction, as the tenant – Western Asset Management – was seriously considering moving out of the state of California, and was looking at major cities including Dallas, Nashville, West Palm Beach and Charlotte. If this had happened, the market repercussion of losing such a prestigious tenant would have been significant in terms of both the loss of high paying jobs for the community, along with a continued upward pressure market vacancy. Western Asset Management’s commitment to the building and market over a long-term period has an imme- diate positive effect on the local economy.
VITAL STATISTICS
CALIFORNIA MARKET CENTER
110 East 9th St., Los Angeles
Square Footage: 164,000
Deal Value: Confidential
In mid-2022, Brookfield Properties signed a 164,000 square foot lease with SPARC Group’s Forever 21. SPARC Group is a global enterprise which designs, sources, manufactures, distributes, and markets apparel and accessories for men, women, and kids. Spanning more than two full office floors, the space will house and concentrate Forever 21’s brand headquarters as well as West Coast based Lucky Brand employees. In addition to core office uses, SPARC will take advantage of CMC’s design to incorporate a mock store for training and studio space. Spanning an entire city block, CMC marks the arrival of a new kind of office space in DTLA.
