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Atlas Capital Group Acquires Office Campus In El Segundo For $39M

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SOLD
$39,000,000
Brianna Demus
Mike Condon Jr.
+ 1

California

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Office102,000 SF
Sold 07/23/2018
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Property Image
SOLD

Atlas Capital Group Acquires Office Campus In El Segundo For $39M

2030 East Maple Avenue, El Segundo, CA 90245, USA

See Similar Deals
Office102,000 SF
Sold 07/23/2018
Brianna Demus
Mike Condon Jr.
+ 1
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Summary

CALIFORNIA
Asset Type:Office
Price Per Square Foot:$382
Total Square Footage:102,000 SF
Transaction Type:Sale

The office campus located at 2030 E. Maple Avenue in El Segundo, LA, has been sold in a closed transaction for a price of $39,000,000. The property spans across a total area of 102,000 square feet, with a price per square foot of $382. The buyers of the property are Atlas Capital Group, while the sellers are SteelWave and Goldman Sachs.

Summary of transaction details

  • Property Type: Office Campus
  • Transaction Amount: $39,000,000
  • Address: 2030 E. Maple Avenue, El Segundo, LA
  • Market: El Segundo

The brokers involved in this transaction include Mike Condon Jr., Kelli Snyder, Brianna Demus, and Erica Finck. The sale, which took place on July 23, 2018, marks the interest of out-of-towners, like Atlas Capital Group, in the booming El Segundo market. Known for its appealing corporate tax rates and relatively low rents, the area has witnessed increased investment due to the influx of media and tech companies in recent years.

Players

Erica Fink
3 deals$61.3M volume
BROKER

Kelli Snyder
CBRE
4 deals$92.9M volume
BROKER

Brianna Demus
JLL
2 deals$130.5M volume
BROKER

Mike Condon Jr.
Cushman & Wakefield
26 deals$1.2B volume
BROKER

Atlas Capital Group
BUYER


Details

SOLD
IMAGE: Lloyd Blankfein, Mike Condon, Kelli Snyder, Erica Finck, Jeff Goldberger DATE: 07/23/2018 ADRESS: 2030 E. Maple Avenue MARKET: El Segundo CITY: LA ASSET TYPE: Office Campus PRICE: $39,000,000 SF: 102,000 PPSF: $382 BROKERS: Mike Condon Jr., Kelli Snyder, Brianna Demus and Erica Finck BUYER: Atlas Capital Group SELLER: SteelWave and Goldman Sachs NOTE: The Atlas is one of several out-of-towners investing in the booming El Segundo market, which abuts the Los Angeles International Airport. The city’s attractive corporate tax rates and relatively low rents has been attracting a slew of media and tech companies in recent years, which in turn has driven investment into the area.

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Deal Type
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Operating Expenses (Annual)
Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$138,558.76
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