Startups, Entertainment And Sports Stars All Draw Development To El Segundo
El Segundo is picking up steam.
The Idea Factory designer/developer Brett Drogmund was attracted to Smoky Hollow, El Segundo's industrial district, where there are an increasing number of startup companies, to build his 10K SF Idea Factory, an office space that includes a green space.
"Smoky Hollow just has a really good buzz to it," Drogmund said.
Smoky Hollow is similar to the Arts District in DTLA, according to Drogmund, a panelist at the recent Bisnow Future of El Segundo event.
El Segundo is not just attracting one industry, as in the past, since creative and entertainment tenants are flocking to the area, according to Lincoln Property senior vice president Kent Handleman.
SSV Properties president David Jordon said El Segundo and the South Bay have always been a core market and have a strong base and institutional capital.
It has become stronger over the past few years.
"There is a lot of vacancy right now that needs to be absorbed down here," Jordon said.
Hackman Capital Partners managing director Ryan Smith said El Segundo is a destination market with the number of athletes who live in the area.
Harbor Associates principal Joon Choi said El Segundo has some of the best talent.
Access to LAX and the ports are bonuses to being in the area, Choi said.
