$10M Makeover to Attact Next Gen
Irvine-based Bixby Land Co is wooing office tenants to its latest acquisition, the 112k SF 2101 El Segundo Blvd in El Segundo; it's refashioning the vacant building into an alternative workplace, Bixby prez Bill Halford tells us. Bixby, which bought the property in a JV with Cornerstone, didnt specify the purchase price but did say it was had for about 40% of replacement cost. The buyers plan to put $10M into repositioning, some of which will go for a new lobby, which will include elements of an eco-resort or boutique hotel, Bill says.
Outdoor gathering areas will take full advantage of SoCals pleasant climate and include raised wood decking and trellised gardens. The property will also be dog-friendly, which might be a first for the market, and provide beach cruiser bicycles for tenants use.
