Press Release

SWIFT BUYS THREE-BUILDING OFFICE CAMPUS IN EL SEGUNDO, CA FROM GI PARTNERS

21 5月 2018

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CBRE announced the sale of a three-building, technology focused office campus in El Segundo, CA to Swift Real Estate Partners.

Todd Tydlaska, Sean Sullivan and Mike Longo of CBRE represented the seller, GI Partners on behalf of an investment vehicle. Mike Walker, Brad Zampa and Megan Woodring of CBRE procured the financing for Swift from a balance sheet lender investing on behalf of an international life company.

The 549,222 square-foot campus is located at 2200, 2222, 2230 East Imperial Highway and currently 100% leased to AT&T (DirecTV) and Raytheon. The asset was originally developed in 1976 and sits along Imperial Highway, adjacent to the 105 Freeway and fronting Los Angeles International Airport. The buildings are part of DirecTV’s global headquarters and in addition to other uses serve critical engineering functions for its popular streaming platform, DirecTV Now.

GI Partners acquired the campus in 2013 and successfully renewed and expanded the anchor tenants. In anticipation of more than 100,000 square feet of pending vacancy in 2019, the project’s first ever, Swift is planning to complete a significant renovation of the campus, including the central plaza with shared areas for collaboration and a full lobby revamp at the 2200 building.

“We are very pleased with the overall investment outcome for this asset,” commented David Boehle, Vice President of GI Partners. “The sale marks the culmination of a multi-year repositioning effort, inclusive of extensive architectural planning and over 237,000 square feet of new leasing that positioned it well for sale to a wide range of investors. The Swift team was great to work with throughout the entire process, and we’re excited to see them transform the campus into a truly Class A project.”

 Added Tydlaska “This transaction demonstrates the continued emergence of the El Segundo submarket. GI Partners created a vision for the repositioning, and now Swift has an opportunity to add its stamp on the plan to attract the next wave of tenants and add additional value to the asset.”

On the financing side, Walker of CBRE noted that “similar to the equity investors, there was great depth and interest from the lending community for this opportunity. Lenders were attracted to the excellent tenant quality, burgeoning location and institutional sponsor. It was a very competitive financing.”

This is Swift’s third acquisition in Los Angeles in the last 18 months, following 4640 Lankershim Boulevard in North Hollywood in late 2017, and the nearby 5200 Lankershim Boulevard in late 2016. 
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.