NSB Associates Leases El Segundo 'Creative Campus' Properties to Entertainment Industry Company
10-Year Lease Absorbs Entire 61,000 Square Feet in Phase I of Project
(firmenpresse) - EL SEGUNDO, CA -- (Marketwire) -- 10/17/11 -- NSB Associates announced that an entertainment industry company has signed a 10-year lease to occupy two buildings, totaling 61,000 square feet, on Utah and Alaska Avenues in El Segundo. The agreement covers all of the available space in the first phase of a planned 'creative campus' development of several former industrial buildings, which when completed will total over 250,000 square feet.
The tenant has requested that it not be identified until it takes occupancy, which is scheduled for the first quarter of 2012. Terms of the agreement were not disclosed.
The two buildings, which originally were occupied by aviation and high-tech manufacturing companies, feature 20-foot ceilings, open-span interiors and generous parking. Michael Preiss of the Klabin Company represented the owner in the transaction. Architect Michael Jones of Sidley Jones, Inc. oversaw the conversion of the properties. Pacific Commercial Builders was the general contractor. Construction began in mid-2010 and was completed in April of 2011.
The buildings, originally box-like concrete structures, now feature facades enlivened by multi-colored metal-framed rectangles and bright, inviting articulated forms over entryways and window areas. Numerous dual-skylight monitors have been cut into the rooftop to bring natural light into the entire interior space. "Skirts" suspended below each skylight catch and reflect the sunlight to distribute the illumination evenly.
Larry Field, Chairman and CEO of Beverly Hills-based NSB Associates, noted that El Segundo, once known as a center of aviation and aerospace manufacturing, has emerged in recent years as a highly desirable location for creative, technology and new media companies.
"Our campus, which was once an industrial area, is now just a few blocks from great restaurants, shops and entertainment, and the beach is just a short bike ride away," said Mr. Field. "It is an ideal location for creative companies that want to attract energetic, creative employees."
Mr. Field said NSB originally planned to subdivide the two buildings, creating spaces of 5,000 to 20,000 square feet which would be made available to multiple tenants. However, when executives of the entertainment industry company saw the property, they expressed an interest in leasing all of the space. Future phases of the development will bring another 190,000 square feet of property to the market. These will also likely follow the multi-tenant model, Mr. Field said.
NSB Associates, led by real estate veteran Lawrence N. Field and a team of experienced professionals, is a real estate development and investment firm headquartered in Beverly Hills. Mr. Field has achieved national recognition as a leader in real estate for more than four decades.
NSB and its related companies have engaged in the real estate business since 1968, building a diversified portfolio of quality assets located in the Southern California area. NSB's more than 200 tenants include Fortune 500 firms and regional retail, transportation, service and entertainment/media companies, with some tenant relationships extending more than 20 years. The overall occupancy rate of NSB's portfolio has consistently averaged more than 95%.
Photos are available at .
Alexander Auerbach
Auerbach & Co. Public Relations
1-800-871-2583
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Datum: 17.10.2011 - 08:00 Uhr
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