UPDATED, 2:45 p.m., Nov. 27: As Biotech and life science firms scoop up more commercial space in Los Angeles County, El Segundo continues to be one of their favorite targets.
Medical firm Radiology Partners signed a 63,820-square-foot lease at the recently completed Ascend building in El Segundo this month, according to JLL and NSB Associates. HLW International Architecture is designing the interior of the new space. Radiology Partners will move its headquarters there from its current location nearby at 2102 El Segundo Boulevard.
Designed by Frank Gehry, Ascend includes 80,000 square feet of office space near the Metro Green Line, and it is minutes away from LAX and the 405 Freeway. It features 24-foot ceilings, large glass walls, and 16,000 square feet of private outdoor patio space.
Ascend is part of the Utah Avenue Campus – a six-building, 390,000-square-foot office complex. It was the first project Gehry designed for his longtime friend Larry Field, the founder of Beverly Hills-based NSB.
JLL’s Mike McRoskey, Blake Searles, Evan Moran and Jason Fine represented NSB Associates in the lease to Radiology Partners. The building now has vacant suites ranging from 10,000 to 21,500 square feet.
Research showed last month that L.A. County absorbed nearly 450,000 square feet of office space in the third quarter, much of that due to increasing demand from healthcare, biotech and life science industries in the South Bay and northern submarkets.
El Segundo is one of the areas with the fastest growing land values in the county, and is a popular spot for office development because of its 40 percent corporate tax break. Commercial rents there are 30 percent lower than in neighboring cities.