The first floor space was recently vacated by General Dynamics who downsized within the submarket earlier this year. El Segundo Research Center is a two-building, low-rise campus, consisting of approximately 210,000 sf, located on corner of Mariposa Ave. and Continental Blvd. in El Segundo.

The lease is significant because it represents true absorption for the marketplace --rather than one tenant moving within the city, according to Mark Mattis, a broker on the deal. El Segundo has seen its single-digit vacancy of last year skyrocket in the last 9 months to almost 20% overall. This is due to a number of factors: new construction completions, corporate downsizing within the market, an abundance of sublease space and telecommunications and dot-com failings.

Mark Mattis, regional director of Prentiss Properties, represented TIAA Realty and Richard Abbitt, president of Venture Realty Group, represented Telasic.