Atlas Capital Group Buys El Segundo Office Campus for $39M

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New York-based real estate investment firm Atlas Capital Group has purchased an El Segundo office campus for $39 million, brokers for the deal announced today.

Atlas Capital picked up the recently renovated 101,874-square-foot Los Angeles County campus at 2030 East Maple Avenue—dubbed INSITE—from SteelWave and Goldman Sachs, according to NKF Capital Markets, which represented the sellers in the transaction.

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“El Segundo is now attracting capital and yield metrics that are comparable to the most desirable West Los Angeles submarkets,” Kevin Shannon of NKF said in a statement. Shannon brokered the deal along with colleagues Ken White, Mike Moll, Rob Hannan and Laura Stumm.

Mike Condon Jr.Kelli Snyder, Brianna Demus and Erica Finck from Cushman & Wakefield handled the sale for Atlas Capital.

SteelWave partnered with Goldman to buy the two-building El Segundo campus—a former Raytheon research facility—in 2015, as per NKF. They spent $29.5 million on the purchase and renovation, which they completed in 2016, according to SteelWave’s website. They turned the buildings into a “creative” office campus with the addition of a new facade, roof and mezzanine.

Update: The story has been updated to reflect that Cushman & Wakefield represented buyer Atlas Capital in the transaction.