{"id":1004204503,"date":"2018-01-22T09:50:03","date_gmt":"2018-01-22T17:50:03","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004204503"},"modified":"2022-12-09T02:18:55","modified_gmt":"2022-12-09T10:18:55","slug":"south-bay-office-building-changes-hands","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/","title":{"rendered":"South Bay Office Building Changes Hands"},"content":{"rendered":"<p>By Beata Lorincz<\/p>\n<div id=\"attachment_1004204505\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/898-Sepulveda-002.jpg\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004204505\" data-attachment-id=\"1004204505\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/898-sepulveda-002\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/898-Sepulveda-002-e1516636749183.jpg\" data-orig-size=\"859,648\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"898 Sepulveda\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;898 Sepulveda Blvd. in El Segundo, Calilf.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/898-Sepulveda-002-e1516636749183.jpg?w=859\" class=\"wp-image-1004204505 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/898-Sepulveda-002-e1516636749183.jpg\" alt=\"898 Sepulveda Blvd. in El Segundo, Calilf.\" width=\"300\" height=\"226\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/898-Sepulveda-002-e1516636749183.jpg 859w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/898-Sepulveda-002-e1516636749183.jpg?resize=300,226 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2018\/01\/898-Sepulveda-002-e1516636749183.jpg?resize=768,579 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><p id=\"caption-attachment-1004204505\" class=\"wp-caption-text\">898 Sepulveda Blvd. in El Segundo, Calilf.<\/p><\/div>\n<p>A joint venture of Stanton Road Capital and Second City Real has acquired an eight-story office building in El Segundo, Calif., for $35.5 million. PCCP LLC provided a $29.1 million senior loan for the transaction, with David Milestone and Brett Green of NKF Capital Markets arranging the financing. According to Yardi Matrix data, the previous owner purchased the asset in 2011 for $23.9 million.<\/p>\n<p>The 88,923-square-foot\u00a0building\u00a0is located at 898 Sepulveda Blvd., near the Los Angeles International Airport. The asset was constructed in 1979 and renovated in 2000. The property includes a six-level parking structure,\u00a0which serves the office building as well as the airport parking operations, providing a constant source of revenue to the owner.<\/p>\n<h2>Booming submarket<\/h2>\n<p>The property, currently 98 percent leased, is part of the South Bay market, with El Segundo being one of the best-performing submarkets in Los Angeles.<\/p>\n<p><em>\u00a0\u201cPCCP saw this as an opportunity to originate a senior loan in a strong submarket to a locally based borrower,\u201d<\/em> said Mike Johnson, vice president with PCCP, in prepared remarks. <em>\u201cThis is PCCP\u2019s second loan to Stanton Road Capital and Second City and we are excited to complete another transaction together.\u201d<\/em><\/p>\n<p>Earlier this month Stanton Road Capital acquired an 11-story, roughly 320,000-square-foot office building within <a href=\"https:\/\/www.commercialsearch.com\/news\/stanton-road-capital-buys-kc-trophy-asset\/\">Kansas City\u2019s Crown Center<\/a>.<\/p>\n<p><em>Image courtesy of\u00a0PCCP LLC\u00a0<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PCCP LLC has provided a $29.1 million senior loan for the purchase of a nearly 89,000-square-foot, eight-story office building near the LAX Airport.<\/p>\n","protected":false},"author":739,"featured_media":1004507567,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21825,21783,1594,21742,21747,15],"tags":[38914,36007,33053,36735,36172],"class_list":["post-1004204503","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-finance","category-investment","category-los-angeles","category-latest","category-office","category-west","tag-mike-johnson","tag-newmark-knight-frank","tag-pccp-llc","tag-second-city-capital-partners","tag-stanton-road-capital"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>South Bay Office Building Changes Hands - 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\/south-bay-office-building-changes-hands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"South Bay Office Building Changes Hands\" \/>\n<meta property=\"og:description\" content=\"PCCP LLC has provided a $29.1 million senior loan for the purchase of a nearly 89,000-square-foot, eight-story office building near the LAX Airport.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/\" \/>\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=\"2018-01-22T17:50:03+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:18:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/898-Sepulveda-002.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"868\" \/>\n\t<meta property=\"og:image:height\" content=\"649\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Beata Lorincz\" \/>\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\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/\",\"name\":\"South Bay Office Building Changes Hands - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/898-Sepulveda-002.jpg\",\"datePublished\":\"2018-01-22T17:50:03+00:00\",\"dateModified\":\"2022-12-09T10:18:55+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/898-Sepulveda-002.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/898-Sepulveda-002.jpg\",\"width\":868,\"height\":649},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"South Bay Office Building Changes Hands\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004\",\"name\":\"Beata Lorincz\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96\",\"caption\":\"Beata Lorincz\"},\"description\":\"With a background in architecture, Beata Lorincz has been an associate editor with Commercial Property Executive and Multi-Housing News since 2017. Her current work centers around architecture and design, the student housing sector and data-driven updates on the office market.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/beata-lorincz\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"South Bay Office Building Changes Hands - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/","og_locale":"en_US","og_type":"article","og_title":"South Bay Office Building Changes Hands","og_description":"PCCP LLC has provided a $29.1 million senior loan for the purchase of a nearly 89,000-square-foot, eight-story office building near the LAX Airport.","og_url":"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2018-01-22T17:50:03+00:00","article_modified_time":"2022-12-09T10:18:55+00:00","og_image":[{"width":868,"height":649,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/898-Sepulveda-002.jpg","type":"image\/jpeg"}],"author":"Beata Lorincz","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/","url":"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/","name":"South Bay Office Building Changes Hands - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/898-Sepulveda-002.jpg","datePublished":"2018-01-22T17:50:03+00:00","dateModified":"2022-12-09T10:18:55+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/898-Sepulveda-002.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/898-Sepulveda-002.jpg","width":868,"height":649},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/south-bay-office-building-changes-hands\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"South Bay Office Building Changes Hands"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/23f841021ddf3b38ebc56abefe1d6004","name":"Beata Lorincz","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/04\/Beata-Lorincz.jpg?w=96","caption":"Beata Lorincz"},"description":"With a background in architecture, Beata Lorincz has been an associate editor with Commercial Property Executive and Multi-Housing News since 2017. Her current work centers around architecture and design, the student housing sector and data-driven updates on the office market.","url":"https:\/\/www.commercialsearch.com\/news\/author\/beata-lorincz\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/03\/898-Sepulveda-002.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004204503","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/739"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004204503"}],"version-history":[{"count":6,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004204503\/revisions"}],"predecessor-version":[{"id":1004204671,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004204503\/revisions\/1004204671"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004507567"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004204503"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004204503"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004204503"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}