Cushman & Wakefield has opened an El Segundo office, relocating from Torrance, the brokerage announced Tuesday.
Its new 12,000-square-foot lease at Continental Development Corporation’s business park is nearly triple the size of its former South Bay digs.
The office, at 2141 Rosecrans Avenue in Continental Park, sits atop a parking structure.
The space was originally built as a gym with two racquetball courts, according to Cushman & Wakefield’s Andrew McDonald.
“We had the benefit of 30′ ceilings, multiple levels, operable windows, private outdoor decks, and an immense amount of natural light,” he said.
Asking rents at the 460,000-square-foot campus range widely, from $3.80 a square foot a month to $8.33 a square foot a month, CoStar shows. The value of Cushman & Wakefield’s lease is not known.
Tom Sheets and Henry Johnson of Cushman & Wakefield represented the brokerage in the deal. Scott Peters was the in-house broker for Continental Development Corporation.
Cushman is leaving behind its 4,000-square-foot office at 970 W. 190th street in Torrance. It has a separate outpost in nearby Long Beach.
The company, which is rumored to be heading toward an initial public offering, has been making moves in L.A. with high-profile broker poaches, including the recent hires of Andrew Tashjian, Brandon Gill, Brandon Burns and Jae Yoo from competitor CBRE.
Its new office will also house new hires, and will have a headcount of 50 within a year, according to a company spokesperson.
The opening of the office follows the firm’s recent announcement that it signed a long-term lease at Korean Air’s Wilshire Grand Center in Downtown Los Angeles, where it will occupy the 24th and 25th floors.
The brokerage has plans to expand its other offices “throughout Greater Los Angeles and Orange County,” according to a company release.
Other tenants in Continental Park include Connill, Dell and Wells Fargo.