It's no new story that El Segundo's office market has been benefiting from activity in West L.A.—but the activity seems to be heating up, with escalating pricing, better yields and high interest from a diverse investment pool. Campus 2100, a 203,946-square-foot class-A office campus in the market, recently traded hands for $117 million—the second highest price tag per square foot in the market. The asset garnered interest from domestic core funds, REITs, and some foreign investors, and Kevin Shannon, West Coast president of capital markets at NKF and the lead broker on the deal, says that competition was fierce. We sat down with Shannon to talk about the growing activity in the market and why investors are rushing in.

GlobeSt.com: What does the high price tag on this property say about the office market in El Segundo?

Kevin Shannon: The per square foot value is high for El Segundo but this is a best-in-class asset. Which means it also generates best-in-class rents higher than much of the El Segundo market. The yields offered by Campus 2100 are far superior than those found on most West Los Angeles office sales and dramatically lower on a per square foot than other prominent parks such as Playa Vista.