By Evelyn Jozsa
BlackRock Real Assets has sold Pacific Corporate Towers, a 1.6 million-square-foot, Class A, multi-tenant office building and parking structure in El Segundo, Calif., to an institutional investor. Eastdil Secured worked on behalf of the seller in the transaction. Tenants include technology firm Nativo Inc., which relocated its headquarters to Pacific Corporate Towers at the beginning of this year.
Located at 200 N Sepulveda Blvd., between Grand Avenue and El Segundo Boulevard, the asset includes three towers and a 4,900-stall structured parking garage. The buildings feature amenities such as campus-wide Wi-Fi, multiple dining options, creative outdoor work spaces and meeting areas, gym and sports court and conference and lounge rooms.
“Pacific Corporate Towers is a unique office property that we have positioned to take advantage of the continued growth of the El Segundo market with recent improvements to the campus and amenity base. BlackRock continues to target high-quality assets in major markets in an effort to deliver attractive risk-adjusted returns to our clients,” said John Lamb, head of U.S. real estate investment management at BlackRock, in prepared remarks.
Image courtesy of Yardi Matrix