Richard Abbitt, Ryan Shuler and Tom Isola with Lee & Associates are pleased to have closed 887-889 N Douglas Ave as a owner/user opportunity in an extensively landscaped business park. The property is located adjacent to an abundance of of shops, restaurants, and hotels. Located near major freeways and within walking distance to the MTA Greenline, the building is easily accessible in the heart of El Segundo. The building itself is in pristine condition, perfect for tech companies as it's offered as a Class A office building design. Closed at an above market price, the 14,174 sq ft building consists of multiple private offices with beautiful finishes. The property offers contemporary architecture, modern infrastructure, and first class retail amenities resulting in an unparalleled business opportunity.
El Segundo Overview:
El Segundo is one of the oldest cities in the Los Angeles area. It is generally accepted that the city is named after the second (Spanish: el segundo) Standard Oil refinery on the West Coast, built in 1911. Standard Oil Company realized that El Segundo would be a great choice, being mostly vacant and having ocean access. The city developed together with the growth of the refinery. In 1930 Los Angeles Municipal Airport was officially opened which brought many aviation companies to El Segundo. In the 1960's the city was even claiming to be "The Aerospace Capital of the World", where companies like Aerospace Company Corporation and Los Angeles Air Force Base had their location. That's why for many years El Segundo was perceived as only an aerospace hub and refinery town. Most recently, El Segundo has been undergoing yet another transformation to that of a major “technology hub” in Southern California, with many of the former aerospace complexes being converted into creative office projects that nurture a collaborative company culture that appeals to many emerging to later stage technology companies. El Segundo is also very well positioned, as a “cost effective” alternative to the Westside of Los Angeles, while avoiding the ever increasing traffic congestion. The Edge office project in particular benefits from easy freeway access, short walking distance to the Metro Rail transportation system and the immediate adjacency to the LAX international airport.