555 S. Aviation Boulevard Acquisition | Announcements | Tishman Speyer

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555 S. Aviation Boulevard Acquisition

Los Angeles, CA August 10, 2015

Tishman Speyer, one of the world’s leading developers, owners, operators and asset managers of first-class real estate, today announced the acquisition of 555 S. Aviation Boulevard located in the El Segundo submarket in the South Bay region of Los Angeles.

The single-story, 260,000-square-foot office property is strategically located within close proximity to Interstate 405, the MTA Green Line stop, Los Angeles International Airport (LAX) and many outstanding dining, entertainment and shopping destinations. Tishman Speyer plans to convert the existing building for creative office use and implement a multi-million dollar redevelopment plan to position it as a best-in-class creative office campus. On-site amenities will include a fitness center, café and bicycle storage, as well as lushly landscaped private outdoor tenant areas.

“This building is well situated and represents a rare opportunity to create a dynamic creative campus in the burgeoning South Bay area,” said Tishman Speyer Regional Managing Director Mark Laderman. “Our strategy will be to enliven and enhance the property with new on-site amenities and improvements, as an increasing number of tenants are seeking a working environment not found in traditional multi-story office buildings. We have great confidence in the South Bay office market as technology, fashion and media companies continue to expand here, and as the demand for creative office space increases.”

The name of the seller, which was represented by David Hasbrouck of Cushman & Wakefield, and the financial details of the transaction were not disclosed.