A vacant six-acre site on Rosecrans Avenue in El Segundo is slated for development as a mixed-use campus with about 240,000 square feet of new office space.
The development, dubbed the Beach Cities Media Campus, includes a five-story, 240,000-square-foot office building, a 66,000-square-foot studio and production facility, and two single-story retail buildings. The site would also include parking for 1,100 vehicles and a pedestrian bridge to a neighboring property with an ArcLight Cinemas movie theater and restaurants, according to Urbanize LA, which cited an environmental report being prepared by the city.
The site at 2021 Rosecrans Avenue was formerly an air separation plant run by Air Products, but it was demolished sometime after mid-2015.
El Segundo has seen a number of multimillion dollar office deals this year, particularly around El Segundo Boulevard. Deutche Asset and Wealth Management grabbed a the high-tech complex Campus 2100 last week for $117.1 million, while Starwood Capital scooped up an office complex for $174 million in June, and Live Oak Properties bought a seven-story office building in the northeast corner of the city for $52 million. [Urbanize LA] – Dennis Lynch