64.2 F
Los Angeles
Tuesday, Oct 4, 2022

Digital Media Company Prodege Signs New Lease in El Segundo

Online marketing and media company Prodege has signed a 35,000-square-foot lease for an office building in El Segundo.

Atlas Capital Group is the landlord for the 102,000-square-foot creative office campus property at 2030 E. Maple Ave.

Atlas Capital Group is developing turnkey suites at the property. A turnkey suite is a move-in-ready office space that allows a tenant to quickly set up shop after signing a lease.

The El Segundo campus will have turnkey suites from 10,000 square feet to 37,000 square feet.

It includes separate entrances for each tenant, a feature that’s considered desirable for many businesses during the Covid-19 pandemic.

Prodege is relocating from a high-rise building in El Segundo to the single-story, private office space.

Steve Solomon and Kristen Bowman from Jones Lang LaSalle Inc. represented Atlas Capital in the lease. Cresa’s David Toomey represented Prodege.

The average asking rate for Class A office space in El Segundo during the third quarter was $4.44 a square foot, an increase of 5 cents from the previous year and up $1.65 in the last five years.

The city is one of the hottest real estate markets in Los Angeles County.

A recently renovated creative office building owned by Tishman Speyer at 555 Aviation Blvd. received a $125 million loan.

Cushman & Wakefield Inc.’s Rob Rubano secured the financing from Royal Bank of Canada.

And in October aircraft parts manufacturer and distributor Herber Aircraft Service signed a 15-year lease at the Nash + Maple Center in El Segundo.

Cohen Asset Management is the landlord of the property at 755 N. Nash St.

Kidder Mathews’ Luke Staubitz, Harvey Beesen, Andrew Dilfer and Brianna Demus represented the landlord in the transaction.

El Segundo is known as a hub for aerospace companies. Boeing Co., Northrop Grumman Corp. and Raytheon Technologies Corp. each have a large presence in the South Bay city.

The aerospace industry has leased roughly 23 million square feet in L.A. including 3.3 million square feet since 2015, according to CBRE Group Inc. 

Hannah Madans Welk
Hannah Madans Welk
Hannah Madans covers real estate for the Los Angeles Business Journal. A USC grad, Madans has done work with publications including The Orange County Register, The Real Deal and doityourself.com.

Featured Articles


Related Articles