Dubbed the Douglas Technology Centre, the proposed building is being designed by Tustin architect Daniel MacDavid. Its design is to be reflective of the area's aviation heritage, with two major entrance lobbies on opposite corners of the building. Most of the space will be on the ground floor, about 160,000 square feet worth.

Overton Moore is building a similar-sized tech building, called Cross Pointe, at Imperial Highway and La Cienega Boulevard, near Los Angeles International Airport.

Steve Solomon, Craig Meyer, and David Drummond of Colliers Seeley International Co. represented Overton Moore in the Rockwell transaction. Seller Rockwell was represented by Cushman & Wakefield.

Solomon said the deal reaffirms the strong place business-friendly El Segundo has had in the office market since Candle Corp. left the Water Garden complex in Santa Monica and moved its headquarters there.

Seeley's Meyer was one of two brokers recently honored by the Society of Industrial and Office Realtors for his role in representing the tenant that moved into Candle Corp.'s space at the Water Garden. Meyer and Michael I. Rosedin of Colliers International Partnership in San Jose were honored for signing Chicago-based Internet consulting firm MarchFirst Inc. in a $65 million, 10-year, lease of 150,000 square feet.

Other recent deals in El Segundo include BroadVision Inc.'s seven-year, $5 million lease for 22,500 square feet at the Continental Grand Plaza II. BroadVision plans to house its South Bay offices there. With that deal, the 240,000-square-foot Continental Grand Plaza II is fully leased. The project is jointly owned by Summit Commercial Properties and REIT Mack-Cali Realty Corp.

Torrance Sale

A Laguna Hills investment group has bought the 152,000-square-foot Torrance Center South, a three-building complex on South Western Avenue in Torrance.

The seller, Torrance-based Southwest Value Partners, got $18.2 million for the property, which is 98 percent leased. Kevin Shannon of Grubb & Ellis represented the buyer. Steve Cramer of Colliers Seeley International represented the seller.

Staff reporter Milo Peinemann can be reached at mpeinemann@labusiness

journal.com.

For reprint and licensing requests for this article, CLICK HERE.

Next