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A Host of Investors Were Drawn to $45M Building

EL SEGUNDO, CA-According to JLL’s Bob Prendergast, 2031 E. Mariposa, which is 100% leased to Mattel, is one of the rate creative office spaces in the South Bay, but Kilroy sheds it to expand up north.

By Natalie Dolce | Updated on January 06, 2012

EL SEGUNDO, CA-On behalf of Kilroy Realty Corp., Jones Lang LaSalle’s capital markets team has closed the sale of 2031 E. Mariposa Ave. here in Los Angeles. JLL managing director Bob Prendergast tells GlobeSt.com that Kilroy disposed of the asset so they could expand in the Seattle and San Francisco area.

According to Prendergast, the deal was strategic from a seller standpoint to “redeploy their capital in the Seattle and San Francisco Bay Area and follow technology.” He adds that “REITs are not traditionally a big seller in real estate and usually more a net acquirer so this is unique in that way.”

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