Hyundai Motor America Acquires Office Building In El Segundo For $70M

Hyundai Motor America has recently acquired an office property located at 2221 Park Place in El Segundo. The transaction was facilitated by Kevin Shannon, Geoff Ludwig, Eric Lastition, and Ken White from Newmark, who represented both the buyer and the seller. The property spans a total of 90,000 square feet, and the sale price amounted to $70,000,000, resulting in a price per square foot of $777. The seller of the property was Cardinal Investments, which is led by Kyle Ransford and Platform Ventures.

Summary of transaction details

• Property Type: Office
• Transaction Amount: $70,000,000
• Square Footage: 90,000
• Price per Square Foot: $777
• Address: 2221 Park Place, El Segundo
• Market: El Segundo

This transaction involved Hyundai Motor America as the buyer and Cardinal Investments as the seller, with the representation of Kevin Shannon, Geoff Ludwig, Eric Lastition, and Ken White from Newmark. The acquisition of the office property signifies a significant move by Hyundai in the El Segundo market. Financial details, such as the sale price and square footage, were not disclosed by the parties involved in the deal.