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

2221 Park Place
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This Office property located in CA was sold for $70,000,000 over 3 years ago. The brokers of the deal were Kevin Sanz, Eric Lastition, Geoff Ludwig, Kevin Shannon, and Ken White

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.

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Deals
  • Location
    2221 Park Place, El Segundo, CA 902452221 Park Place, El Segundo, CA 90245
  • Sale Price
    $70,000,000$70,000,000
    $777 PPSF$777 PPSF
  • Area
    90,000 SF90,000 SF
  • Asset Type
    OfficeOffice
  • Parties
    5 Brokers, 1 Agency5 Brokers, 1 Agency

Agents

Kevin Sanz

Kevin Sanz

Deals5
Sold$113.3M

Eric Lastition

Eric Lastition

Deals3
Sold$120.5M

Kevin Shannon

Kevin Shannon

Deals79
Financed$4.9B

Ken White

Ken White

Deals58
Financed$3.6B

Agency

Newmark

Newmark

Agency
Deals3894
Volume$397.4B

Social

Deal Summary

SALE IMAGE: Kevin Shannon, Geoff Ludwig, Eric Lastition & Ken White DATE: 08/16/2021 ADDRESS: 2221 Park Place MARKET: El Segundo ASSET TYPE: Office BUYER: Hyundai Motor America @hyundaiusa SELLER: Cardinal Investments - Kyle Ransford & Platform Ventures BROKERS: Kevin Shannon, Geoff Ludwig, Eric Lastition @lassieman1 & Ken White - Newmark @newmark SALE PRICE: $70,000,000 SF: 90,000 ~ PPSF: $777

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2221 Park Place

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