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Griffin Capital Plans Office Development in Los Angeles

Griffin Capital Company LLC, a private alternative asset manager, has purchased two parcels of land located immediately adjacent to the company’s headquarters building, in El Segundo, a suburb of Los Angeles.

Griffin Capital Company LLC, a private alternative asset manager, has purchased two parcels of land located immediately adjacent to the company’s headquarters building in El Segundo, a suburb of Los Angeles.

“We worked on this transaction for over two years and are excited to develop these parcels into what we believe will be an attractive, visually-stimulating entrance into the Smoky Hollow area of this rapidly-evolving neighborhood,” said Kevin Shields, chairman and chief executive officer of Griffin Capital.

El Segundo is located south of Los Angeles International Airport, and Griffin claims that the area is experiencing demand from technology and digital media companies seeking contiguous blocks of space in “open format, architecturally-distinctive” office properties, which it said in short supply in nearby Santa Monica, Culver City and Silicon Beach.

Griffin plans to develop two new structures and redevelop and expand two existing structures. The office buildings will include 15- to 18-foot slab-to-slab clearance, large operable windows, balconies, and common outdoor courtyards and tenant amenities.

On the northeast corner of Grand and Kansas, Griffin plans to redevelop, repurpose and expand two existing structures into 155,000 square feet of creative office, with a glass exterior curtain wall, along with a 430-stall structured parking garage.

On the southeast corner, Griffin will raze the existing structures and develop two ground-up buildings totaling 86,000 of creative office space along with a parking structure.

Shields added, “The demand for creative office property in El Segundo continues to accelerate and we are excited to develop these properties to meet tenant demand, while bolstering the aesthetics and quality of our neighborhood.”

Construction begins in October 2020 and will be completed in May 2022.

Founded in 1995, Griffin Capital has offices in Irvine, California, Phoenix, Arizona, and Greenwich, Connecticut, and has owned, managed, sponsored or co-sponsored investment programs totaling more than $17 billion in assets.

The firm’s alternative investments include three groups of products: actively managed interval funds in the Institutional Access fund family, non-traded real estate investment trusts and tax-advantaged private real estate strategies.

These products include Griffin Capital Essential Asset REIT, Griffin Institutional Access Credit Fund, Griffin Institutional Access Real Estate Fund, Griffin Institutional Property Exchange DSTs, and a qualified opportunity zone fund.

Click here to visit the Griffin Capital directory sponsor page.