Colliers Negotiates $7.3 Million Sale of Land for Future Development of Elevon Creative Campus
2.6 Acres of Vacant Land Sells as Part of Campus El Segundo Business Park
Colliers International has negotiated the sale of 2.6 acres of vacant land designated for future development at Campus El Segundo’s newest phase, Elevon, a 46.5-acre mixed-use center that combines creative office space with retail shops, restaurants, a hotel, athletic fields and outdoor collaborative work spaces. Total consideration of the sale was $7.3 million.
Colliers Executive Vice Presidents Geoff Ludwig and Eric Lastition, who are both based at the firm’s El Segundo offices, represented the buyer, Amar Shokeen, the well-known technology and hospitality executive. A team from CBRE and JLL represented Continental Development Corp. and Mar Ventures, joint developers of the center.
Located at 2201 E. Nash Ave., Elevon is comprised of 210,000 square feet of office space, a new Park Hyatt Hotel, and 13,500 square feet of high-end retail shops, services and restaurants. Buildings and units within the 15-building campus range from 2,000 to 28,000 square feet for sale, offering companies the unusual opportunity to own the space they wish to occupy.
“This is by far the most creatively conceived and designed center in the region,” said Ludwig. “Nothing about this center is ordinary, from outdoor amenities not normally associated with a business center to the fact that companies occupying space at the center can own the space they occupy.”
Elevon’s campus-like setting includes such outdoor features as a wi-fi park, outdoor collaborative work spaces, bocce ball court, covered meeting areas, outdoor kitchen, lounge areas with fireplace, a dog park, and ample seating. It also will be the site of the Los Angeles Lakers new $80 million executive headquarters and training facility slated to open in 2018.
Located in the middle of El Segundo's Central Business District, Campus El Segundo is within walking distance to such Fortune 500 companies as Raytheon, Northrop Grumman, Aerospace Corp., Mattel, and Chevron. It also features direct access to the San Diego (I-405) and Century (I-105) freeways and the Metro Green Line station.