{"id":1004035617,"date":"2011-12-30T06:21:51","date_gmt":"2011-12-30T14:21:51","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004035401"},"modified":"2022-12-07T21:17:22","modified_gmt":"2022-12-08T05:17:22","slug":"exclusive-192-ksf-el-segundo-triple-net-leased-office-sells-for-45m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/exclusive-192-ksf-el-segundo-triple-net-leased-office-sells-for-45m\/","title":{"rendered":"Exclusive: 192 KSF El Segundo Triple-Net-Leased Office Sells for $45M"},"content":{"rendered":"

December 30, 2011<\/strong>
\nBy Nicholas Ziegler, News Editor<\/em>
\n\"\"<\/a><\/p>\n

AG Net Lease Fund II, a vehicle of Angelo, Gordon & Co., has picked up a 192,053-square-foot office in the Los Angeles submarket of El Segundo for $45 million from Kilroy Realty Corp. The property, a converted industrial warehouse that now serves as the global design center for toy maker Mattel Inc., is 100 percent triple-net-leased to the tenant. Jones Lang LaSalle brokered the transaction.<\/p>\n

Mattel has occupied the building for 21 years and, in the third quarter of 2011, signed a lease extension that puts the company in the building through 2026.\u00a0 \u201cWe started marketing this in the summer,\u201d JLL manging director Bob Prendergast told Commercial Property Executive<\/em>. \u201cBut once the tenant decided to commit to a longer lease term, we were able to move the building in a market transaction in three weeks.\u201d<\/p>\n

The building, which sits at 2031 E. Mariposa Ave., consists of 10 acres. Mattel, having occupied the site for some time, has invested considerable capital in space upgrades and will likely continue to remain in El Segundo. The Mariposa property is adjacent to three other buildings also occupied by Mattel \u2013 including the company\u2019s corporate headquarters \u2013 giving the area an unofficial campus feel.<\/p>\n

\u201cWe don\u2019t see a lot of long-term net-lease transactions in Southern California,\u201d Prendergast said. \u201cThis property proved highly desirable to a whole host of investors who understood the appeal of a stabilized asset leased to a credit tenant in one of the strongest, high barrier-to-entry markets in the Los Angeles region.\u201d<\/p>\n

According to an article in the January 2012 issue of CPE<\/em><\/a>, net-lease transactions have been attracting investors who are looking for stability in uncertain times. Through September 2011, the market saw $17.5 billion in transactions, as compared to $19.2 billion in the whole of 2010.<\/p>\n

And according to a third-quarter report by JLL, the Los Angeles area has stagnated somewhat in 2011. Unemployment remains at 13.2 percent, virtually unchanged from last year\u2019s 13.4 percent \u2013 and still well above the national average of 9.1 percent.<\/p>\n","protected":false},"excerpt":{"rendered":"

AG Net Lease Fund II, a vehicle of Angelo, Gordon & Co., has picked up a 192,053-square-foot office in the Los Angeles submarket of El Segundo for $45 million from Kilroy Realty Corp. <\/p>\n","protected":false},"author":1201,"featured_media":1004038330,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21781,21808,21783,21742,21747,15],"tags":[],"class_list":["post-1004035617","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-corporate-real-estate","category-featured","category-investment","category-latest","category-office","category-west"],"acf":[],"yoast_head":"\nExclusive: 192 KSF El Segundo Triple-Net-Leased Office Sells for $45M - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/exclusive-192-ksf-el-segundo-triple-net-leased-office-sells-for-45m\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Exclusive: 192 KSF El Segundo Triple-Net-Leased Office Sells for $45M\" \/>\n<meta property=\"og:description\" content=\"AG Net Lease Fund II, a vehicle of Angelo, Gordon & Co., has picked up a 192,053-square-foot office in the Los Angeles submarket of El Segundo for $45 million from Kilroy Realty Corp.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/exclusive-192-ksf-el-segundo-triple-net-leased-office-sells-for-45m\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2011-12-30T14:21:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T05:17:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2011\/12\/123011-Mattel-El-Segundo-45M-Sale.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"500\" \/>\n\t<meta property=\"og:image:height\" content=\"364\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Nicholas Ziegler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exclusive-192-ksf-el-segundo-triple-net-leased-office-sells-for-45m\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exclusive-192-ksf-el-segundo-triple-net-leased-office-sells-for-45m\\\/\"},\"author\":{\"name\":\"Nicholas Ziegler\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/ff3a837f33daecfcf8978b405eaae20c\"},\"headline\":\"Exclusive: 192 KSF El Segundo Triple-Net-Leased Office Sells for $45M\",\"datePublished\":\"2011-12-30T14:21:51+00:00\",\"dateModified\":\"2022-12-08T05:17:22+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exclusive-192-ksf-el-segundo-triple-net-leased-office-sells-for-45m\\\/\"},\"wordCount\":334,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exclusive-192-ksf-el-segundo-triple-net-leased-office-sells-for-45m\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2011\\\/12\\\/123011-Mattel-El-Segundo-45M-Sale.jpg\",\"articleSection\":[\"Corporate Real Estate\",\"Featured\",\"Investment\",\"News\",\"Office\",\"West\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exclusive-192-ksf-el-segundo-triple-net-leased-office-sells-for-45m\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exclusive-192-ksf-el-segundo-triple-net-leased-office-sells-for-45m\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/exclusive-192-ksf-el-segundo-triple-net-leased-office-sells-for-45m\\\/\",\"name\":\"Exclusive: 192 KSF El Segundo Triple-Net-Leased Office Sells for $45M - 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