LOS ANGELES—Elevon at Campus El Segundo is already 66% sold, after opening in July 2015. At this rate, the ownership, which includes Mar Ventures and Continental Development, expects that the property could sell out by the end of the year. The office campus has 15 buildings, both stand-alone and condo-style spaces, totaling 215,000 square feet of office space and 13,500 square feet of retail.

“The ownership group is extremely pleased. We are ahead of where we projected we would be both on sales volume as well as price,” Alex Rose, SVP of development at Continental Development, tells GlobeSt.com. “I think that everybody believes that, physically, the project came out not only as designed but actually looks better than any of us, even in the development community, imagined it would be. The market has really embraced and complimented what they see here in terms of the campus environment and the unique architecture. There is scarcity of for-sale product, especially for something that is brand new and in a campus setting.”

The property has for-sale stand-alone buildings and condo-style office spaces in a campus setting with a substantial amenity base, including walking paths, gardens, fire pits and indoor/outdoor workspaces. The majority of the workspaces feature roll-up metal doors to mix the inside with the outside and private balconies. These features and the virtually non-existent supply of for-sale office in the El Segundo market, have helped to boost interest from potential buyers and has led to the expedited buy-up of the spaces. “I believe about 75% of our sales so far have come from companies that are based in the South Bay. The other 25% of those companies are also recognizing that El Segundo has a competitively priced work environment, a tremendous infrastructure and a lower cost of doing business,” says Rose. “What we tried to do is take those competitive advantages and wrap them into our overall story.”