Lincoln Property, Rockwood Team Up on SoCal Office Project
By
Gateway El Segundo
El Segundo, Calif.—Lincoln Property Co. and an affiliate of Rockwood Capital LLC have partnered together on the purchase and multi-million dollar repositioning of a 355,000-square-foot office and retail campus to creative offices in the region’s fast-growing “Silicon Beach” area.
The firms bought Gateway El Segundo, which has three three-story Class B office buildings and two single-story retail buildings, for a reported $120 million from DivcoWest. Lincoln Property and the Rockwood affiliate didn’t release the price, only saying they plan a “multi-million renovation” to create a top-tier creative campus by late 2017. DivcoWest had owned the property located in the heart of El Segundo’s commercial district at Sepulveda Boulevard and East Grand Avenue since April 2014, when it reportedly paid $75 million for it…
