LOS ANGELES-Real estate investment firms Invesco Real Estate and SSV Properties have teamed up to purchase Park Place office complex in El Segundo's Continental Park for an undisclosed price. With four buildings, the large campus has 540,000 square feet of office space.

"Invesco is thrilled about teaming up with SSV Properties on this exciting opportunity to create the type of collaborative workspace sought by the most progressive tenants in the market, both creative and more traditional," says Peter Cassiano, Invesco Real Estate director of acquisitions.

Three of the four buildings will undergo an extensive remodel, estimated at $75 million. The renovation will create a cohesive feel across the campus with similar materials, landscaping and signage on the exterior. The interior space will be designed for creative office use with open floors plans to encourage collaboration. Architecture firms Shubin + Donaldson and Steven Erhlich will lead the renovation of the three buildings. Construction of the building at 2121 Park Place begins in two weeks with 800 Apollo beginning in the fall and 2175 Park Place commencing in 2014.