Live Oak Properties buys El Segundo office for $52M

The building sold for more than twice the price of its last trade

Feb.February 22, 2017 04:28 PM
2300 E Imperial Hwy (Google Maps)

Developer Live Oak Properties purchased a seven-story El Segundo office building for $52 million — more than twice the price of its last trade — Real Capital Analytics shows.

It paid the seller, V.C.I. Corporation, $331 a square foot for the property. Neither the buyer nor the seller could be reached for comment. 

The 157,225-square-foot building sits on 4.57 acres and was built in 1964, according to property records.

It was renovated in 2000, with new common areas and parking structure, according to a previous listing.

The office property at 2300 E. Imperial Highway was sold vacant, according to a leasing listing from Cushman & Wakefield.

V.C.I. Corporation purchased the property in 2011 for $25.4 million, or $162 a square foot.

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