Buyer revealed: Patrick Soon-Shiong’s NantWorks acquires El Segundo office

Billionaire’s firm has invested in other commercial properties in city

Patrick Soon-Shiong and the office building (Getty, LoopNet)
Patrick Soon-Shiong and the office building (Getty, LoopNet)

NantWorks, the biotechnology and investment company owned by billionaire Patrick Soon-Shiong, was the buyer behind a $52 million creative office building in El Segundo, The Real Deal has learned.

An LLC linked to NantWorks purchased the 52,000-square-foot property at 601 N. Nash Street. The Los Angeles Business Journal reported the sale last week but did not identify the buyer. It did report the buyer was expected to occupy the building itself.

The LLC is connected to James Banaag — CFO of NantWorks’ NantBio subsidiary — and Charles Kentworthy, Soon-Shiong’s associate at Nantworks. Banaag could not be reached for comment.

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Excelsior Partners was the seller.

NantWorks has acquired other El Segundo properties; Soon-Shiong also moved the Los Angeles Times headquarters to the city in 2018 after he purchased the paper.

NantWorks also owns 444 N. Nash Street, a 117,500-square-foot data center it purchased with Severfarm earlier this year for $71 million.  Soon-Shiong also bought a 33,000-square-foot office building in the neighborhood for $19 million in 2019.