EL SEGUNDO, CA-Marshall Property and Development plans to add a parking structure to its Marshall 2100 Grand office project in El Segundo. The developer has chosen Klorman Construction Corp. to build the new parking structure on an adjoining lot.
The post-tensioned concrete parking structure will have three levels to accommodate 203 cars. Part of a repositioning project on the site, Marshall Property and Development hopes the addition will attract prospective tenants. “The improved parking-to-square-footage ratio will make this renovated project an attractive options for new office tenants,” says Bill Klorman, president of Klorman Construction. “We're proud to assist Marshall Property and Development on this opportunity.”
Marshall Property and Development purchased the property out of bankruptcy in May for $25 million in an all cash deal. The property, formerly called Rhythm and Hues Campus, has three buildings totaling 200,000 square feet. Academy Award-winning Rhythm and Hues formerly occupied the site before filing for bankruptcy in February. Marshall Property was one of multiple buyers to bid on the building. Since the purchase, they have begun repositioning the property to attract the demand for creative space in the South Bay.
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