EL SEGUNDO, CA—Industry Partners has taken on the marketing and leasing of El Segundo Gateway, a 350,000-square-foot creative office redevelopment project from Divco West. In an earlier story, GlobeSt.com reported that Divco West purchased the property for approximately $75 million and planned to reposition the traditional property as a creative office campus. Now that the renovations are well underway, the investor has retained Industry Partners to begin marketing the property.

“Divco West's vision is for full modernization of the property from exterior landscaping, new hardscape and communal areas in the center courtyard area to updated and modernized interior building common areas, including new bathrooms, corridors, elevators, roofs and so on,” Travis Landrum of Industry Partners tells GlobeSt.com. “This is done in an effort to attract new tenants as well as create a better work environment for existing tenants.” 

Industry Partners is seeking long-term modern tenants who are looking for a wide range of onsite amenities to fill the space, according to Landrum. The property offers onsite parking and a campus setting that is attractive to many of the tech and creative users migrating into the El Segundo area from Santa Monica and other South Bay markets that have become overpriced. “This development is unique in that it offers a low rise campus setting in El Segundo able to accommodate young companies with growth and expansion options within the project,” Landrum adds.

When Divco West purchased the property, it described the area as a key Los Angeles growth market thanks to the influx of office users coming to the area. That has only grown in the 9 months since it purchased the property. “Growth in El Segundo is balanced between tech, entertainment and service businesses, looking for collaborative and new work spaces,” says Landrum. “It is a solid market right now, and continues to improve.”