New home of LA Times is revealed

The 4.5-acre property in El Segundo has room for a ground-up building

Los Angeles /
Apr.April 17, 2018 08:10 AM
2300 Imperial Highway in El Segundo

The big announcement last week that the Los Angeles Times will move out of its Art Deco downtown office and into a new locaiton in El Segundo was missing one thing: an address.

Now, that has been confirmed. The company will move to 2300 Imperial Highway in El Segundo, the Times reported.

Dr. Patrick Soon-Shiong, who is in the process of buying the newspaper, owns the unassuming seven-story office building. It is one of at least five the biomedical billionaire owns in the city.

Soon-Shiong said the building is being renovated to accommodate a newsroom on multiple floors, a cafeteria, retail shop, museum, studios, and event spaces. He added that there was room on the 4.5-acre property to raise another building as well.

Soon-Shiong’s Culver City-based Live Oak Properties bought the 157,000-square-foot building last February for $52 million. It was built in 1964 and underwent a major renovation in 2000.

The mission, he added was “to create the most modern newsroom,” and said the Times “[needs] to build a campus that is there for the next 100 years, not to lease a building.”

While the building is being outfitted, Times employees will work in a 120,000-square-foot building nearby, the paper reported.

The Times has been at the Downtown building that bears its name since 1935, near many of the government institutions it regularly covers. Vancouver-based Onni Group purchased the building two years ago and wanted $1 million in monthly rent from the Times, Soon-Shiong claims. [LAT] — Dennis Lynch


Related Articles

arrow_forward_ios
Galpin Motors' Bert Boeckmann with 9777 Wilshire Boulevard
Galpin Motors to open Lotus dealership in Beverly Hills
Galpin Motors to open Lotus dealership in Beverly Hills
Link Logistics's Luke Petherbridge with 1719 Chapin Rd (Loopnet, Link Logistics, Getty)
Link Logistics buys 82K sf warehouse in Montebello for $29M
Link Logistics buys 82K sf warehouse in Montebello for $29M
Irvine Mayor Farrah Khan and Live Nation's Michael Rapino with rendering of Irvine amphitheater(City of Irvine, Getty, Gensler)
Irvine to develop 14K-seat OC bowl for $130M
Irvine to develop 14K-seat OC bowl for $130M
Anaheim Ducks' Henry and Susan Samueli; 2695 E. Katella Avenue (OCVibe, Anaheim Ducks)
Anaheim Ducks owners envision $4B entertainment village
Anaheim Ducks owners envision $4B entertainment village
 30801 South Coast Highway (Montage Hotels, Getty)
Chinese insurer to sell Montage Laguna Beach for $700M
Chinese insurer to sell Montage Laguna Beach for $700M
Charles Company's Mark and Arman Gabay and a rendering of 550 E. Colorado Boulevard in Pasadena (WATG)
195-room hotel planned for Pasadena’s Playhouse District
195-room hotel planned for Pasadena’s Playhouse District
Bardas Investment Group's David Simon with 6311 Romaine Street
Hollywood’s Television Center readies for $600M makeover
Hollywood’s Television Center readies for $600M makeover
Century Plaza project at 2025 Avenue of the Stars and Woodbridge Capital Partners' Michael. Rosenfeld (CoStar)
Stake in the Century Plaza Hotel heads to auction block
Stake in the Century Plaza Hotel heads to auction block
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...