The building stands at 2221 Park Ave. It was built by a private group known as Digital Media Campus and was originally designed to serve as incubator space for startup Internet and technology firms.

As the dot-com troubles worsened in the spring and such incubators became more like incinerators, PM Realty Group—which was hired as the project's leasing and management agent in April--persuaded the building's owner to target larger, well-established companies instead. The deal with TRW was signed and completed barely two months later.

The new lease also is the latest indicator that tenants and investors alike believe that LA's El Segundo market will continue to fare better than most other parts of the region. Earlier this week, GlobeSt.com reported that affiliates of San Francisco-based Krausz Cos. paid more than $65 million for a pair of office buildings totaling 270,00 sf in the city. A few days earlier, Metropolitan Life Insurance Co. announced that it had paid $67.2 million for the nearby, 239,086-sf Continental Grand Plaza II office complex.