The post-Cold War decline of Southern California’s aerospace industry left numerous industrial buildings in El Segundo without occupants. Decades later, the spread of Silicon Beach is finally offering a path forward. Steelwave, a real estate firm based out of Foster City, is rehabilitating a former Raytheon research facility at 2030 E. Maple Avenue into creative office space. The one-story structure, located east of Sepulveda Boulevard, was previously used in the development of the B2 bomber and other defense type planes.
Construction is in full swing for a high-end Cambria hotel in El Segundo. The project, a joint venture between Choice Hotels International Inc. and Fillmore Capital Partners, consists of a six-story buidling that will feature 152 guest rooms. The hotel’s on-site amenities will include a fitness center, a private patio area and a contemporary bistro known as Social Cirlce. Surrounded by Sepulveda, El Segundo and Contental Boulevards, the Cambria is intended to business travelers to El Segundo via nearby Los Angeles International Airport.
Approximately 66% of properties are now sold or in escrow at Elevon, a 15-acre creative office campus in El Segundo. Buyers include several media and tech firms relocating from traditional Southern California tech hubs such as Santa Monica and Venice. Elevon - which was developed by a joint venture between Continental Development Corporation and Mar Ventures Inc. - consists of 15 buildings featurring 210,000 square feet of office space and 13,500 square feet of retail and restaurant space.
As one Hampton Inn & Suites prepares to start work in Koreatown, another is already well underway south of Los Angeles International Airport in the City of El Segundo. The five-story hotel, located at 888 N. Sepulveda Boulevard, will feature approximately 190 guest rooms and associated amenities. The low-rise edifice is rising on a formerly vacant lot adjacent to an eight-story office building and parking garage. Completion is reportedly on pace to occur sometime in late 2016.