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Office Medical

2311 W El Segundo Blvd

2311 W El Segundo Blvd, Hawthorne, CA 90250

Listing Price: $3,100,000

Cap Rate
6.95%
Gross SF
16,434
Rentable SF
16,434
Price/Gross SF
$188.63
Occupancy
100.0%
Year Built
1965
Lot Size
0.55 acres

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 2311 West El Segundo Boulevard, a 16,434 square foot office building located in the South Bay sub-market od Hawthorne, CA. This two-story low-rise office building has been the long-term home of the County of Los Angeles and serves as a mental health center. The County of Los Angeles has successfully operated at this location for thirty-two years since June 21, 1988. Of current, they are occupying the building on a month to month lease. This creates a unique opportunity for an owner-user Buyer looking to occupy the building for their own use. The investment also lends itself to an investor, with the ability to re-structure the current lease with the county or re-position the asset with a new tenant base. 2311 West El Segundo Boulevard is ideally located just east of Crenshaw Boulevard and just West of S. Western Avenue along El Segundo Boulevard, a main east/west thoroughfare through the South Bay. The subject property is easily accessible to multiple major freeways including the Interstate 405 San Diego Freeway, the Interstate 105 California Freeway, and the Interstate 110 Freeway. The subject property is less than 1.5 miles from the Tesla/SpaceX campus, Hawthorne Municipal Airport, and the Metro line Park & Ride, 2.5 miles from the new Los Angeles Football Stadium at Hollywood Park in Inglewood, and minutes from Los Angeles International Airport. The South Bay is experiencing a commercial real estate renaissance and has been seeing an influx of commercial development over the past number of years, with several new projects slated for construction in the immediate future. Inglewood is one of the hottest submarkets in the country, with a new $4.9 billion Los Angeles Football Stadium scheduled to open in Summer 2020, plus 3,000 new residential units, 620,000 square feet of retail, a 300-room luxury hotel, an artificial lake, and a revamped Casino. El Segundo is the home to Smoky Hollow an eclectic mix of creative office, research and development and light industrial with cafés, art splashed on the walls, bike paths and pedestrian walkways. San Pedro is the home to the San Pedro’s Public Market, Promenade & Town Square, a 400-acre waterfront development that includes a 15,000 square-foot food hall with a variety of vendors serving food, beer, wine, and possibly a full bar. The 40-acre space will also include offices, a promenade, 600 feet of courtesy slips and pedestrian paths, container kitchens surrounded by an outdoor garden, playgrounds and recreation areas, waterfront taxis and cruises and a Town Square that will connect the new development to San Pedro historic downtown district.

Investment Highlights

  • Month to Month lease creates an excellent opportunity for an Owner-User Buyer
  • 16,434 square foot two- story office building with 41 parking spaces in the rear
  • Excellent visibility and frontage along El Segundo Boulevard, a main east/west thoroughfare through the South Bay

Exclusively Listed By

Listing Price: $3,100,000

Cap Rate
6.95%
Gross SF
16,434
Rentable SF
16,434
Price/Gross SF
$188.63
Occupancy
100.0%
Year Built
1965
Lot Size
0.55 acres

Investment Highlights

  • Month to Month lease creates an excellent opportunity for an Owner-User Buyer
  • 16,434 square foot two- story office building with 41 parking spaces in the rear
  • Excellent visibility and frontage along El Segundo Boulevard, a main east/west thoroughfare through the South Bay

Investment Overview

Marcus & Millichap has been selected to exclusively market for sale 2311 West El Segundo Boulevard, a 16,434 square foot office building located in the South Bay sub-market od Hawthorne, CA. This two-story low-rise office building has been the long-term home of the County of Los Angeles and serves as a mental health center. The County of Los Angeles has successfully operated at this location for thirty-two years since June 21, 1988. Of current, they are occupying the building on a month to month lease. This creates a unique opportunity for an owner-user Buyer looking to occupy the building for their own use. The investment also lends itself to an investor, with the ability to re-structure the current lease with the county or re-position the asset with a new tenant base. 2311 West El Segundo Boulevard is ideally located just east of Crenshaw Boulevard and just West of S. Western Avenue along El Segundo Boulevard, a main east/west thoroughfare through the South Bay. The subject property is easily accessible to multiple major freeways including the Interstate 405 San Diego Freeway, the Interstate 105 California Freeway, and the Interstate 110 Freeway. The subject property is less than 1.5 miles from the Tesla/SpaceX campus, Hawthorne Municipal Airport, and the Metro line Park & Ride, 2.5 miles from the new Los Angeles Football Stadium at Hollywood Park in Inglewood, and minutes from Los Angeles International Airport. The South Bay is experiencing a commercial real estate renaissance and has been seeing an influx of commercial development over the past number of years, with several new projects slated for construction in the immediate future. Inglewood is one of the hottest submarkets in the country, with a new $4.9 billion Los Angeles Football Stadium scheduled to open in Summer 2020, plus 3,000 new residential units, 620,000 square feet of retail, a 300-room luxury hotel, an artificial lake, and a revamped Casino. El Segundo is the home to Smoky Hollow an eclectic mix of creative office, research and development and light industrial with cafés, art splashed on the walls, bike paths and pedestrian walkways. San Pedro is the home to the San Pedro’s Public Market, Promenade & Town Square, a 400-acre waterfront development that includes a 15,000 square-foot food hall with a variety of vendors serving food, beer, wine, and possibly a full bar. The 40-acre space will also include offices, a promenade, 600 feet of courtesy slips and pedestrian paths, container kitchens surrounded by an outdoor garden, playgrounds and recreation areas, waterfront taxis and cruises and a Town Square that will connect the new development to San Pedro historic downtown district.

Exclusively Listed By

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