Los Angeles-area office campus trades hands
JLL Capital Markets completes the sale of 1960 E. Grand Ave.
LOS ANGELES, February 21, 2020 – JLL Capital Markets announced today that it has completed the sale of 1960 E. Grand Ave., a 260,000-square-foot office complex in El Segundo, California.
JLL represented the seller and procured the buyer, an undisclosed institutional investor.
1960 E. Grand Ave. consists of two parcels totaling 5.4 acres, which house a 12-story office building plus development potential to build up to 94,000 square feet of creative office or hotel space. The 79%-leased building features 21,500-square-foot floorplates, expansive window lines, parking for 926 vehicles, a fitness deck, communal outdoor work space and an upgraded plaza. Positioned in El Segundo’s superblock, 1960 E. Grand Ave. is surrounded by an abundance of Fortune 500 companies as well as a wealth of amenities in Downtown El Segundo, Manhattan Village and The Point. Additionally, the property is two blocks east of the Metro Green Line and has excellent transit accessibility to LAX, just north of the property.
The JLL Capital Markets team representing the seller was led by Managing Directors Tom Bohlinger and Andrew Harper and Director Will Poulsen.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
Jones Lang LaSalle Americas, Inc. ("JLL") is a real estate broker licensed with the California Department of Real Estate, license #01223413.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.