A large research and development facility is coming to an industrial site in El Segundo, an area that has seen an influx of real estate investment as it attracts an increasing number of tech companies.
LIMO Company signed an agreement with Smoky Hollow Industries LLC to redevelop a large industrial site near Sepulveda and El Segundo boulevards, adding up to 200,000 square feet of space and a 400-vehicle parking garage, according to Urbanize.
Neither LIMO nor Smoky Hollow Industries could be reached for comment.
Renderings suggest that some of the four buildings on site — situated between Oregon and Kansas streets — would be repurposed and others would be razed. They were built between the 1950s and 1970s. The site is now home to a bicycle manufacturer, an aviation equipment supplier, and is the headquarters of Beyond Meat, a company that manufactures plant-based imitation beef products.
In El Segundo, some developers are scooping up property to redevelop, turning them into sought-after Class A office space.
The R&D campus site is not far from the Pacific Corporate Towers and Continental & Grand office tower complexes, which Starwood Capital purchased last year for $605 million and $174 million respectively. [Urbanize] — Dennis Lynch