El Segundo, CA - Office Market Overview
El Segundo neighbors the Long Beach, Santa Monica, and Torrance commercial real estate markets. While the city itself is home to only about 67,000 people, El Segundo is part of the Greater Los Angeles area, which is home to over 13 million residents.
As of mid-2017, the El Segundo office market encompasses nearly 12 million square feet of existing office space in properties larger than 50,000 square feet. Although the city is less than 6 square miles in size, the commercial real estate market in El Segundo, CA, is robust, thanks to a vibrant mix of businesses and industries that call this small city home.
El Segundo, CA - Office Inventory Description
Although the city began as a manufacturing and oil refining site, El Segundo has transformed itself into a prime location for aerospace and large corporate office headquarters, while still retaining its industrial roots. Consequently, the demand for office space in El Segundo is consistently strong. Nearly 53% of the office space in El Segundo is Class A or A+, while Class B office space represents 5.3 million square feet of the office market in El Segundo.
The majority of the larger office buildings in El Segundo are located west of the I-405 between Rosecrans Avenue and the Imperial Highway. Some of the investment-grade office buildings in El Segundo include the Campus 2100 - 2100 East Grand Avenue, The Plaza at Continental Park, and the Grand Avenue Courtyard on 1960 East Grand Avenue.
El Segundo, CA Commercial Inventory Breakdown
Total: 15,518,354 SF
By square footage range:
- 50k to 100k SF: 926,123 SF / 5.97% of total office
- 100k to 500k SF: 10,430,782 SF / 67.22% of total office
- 500k to 1M SF: 4,161,449 SF / 26.82% of total office
- Class A: 6,882,854 SF / 44.35% of total office
- Class B: 5,279,048 SF / 34.02% of total office
- Class C: 290,806 SF / 1.87% of total office
El Segundo, CA - Green Office Space
Because El Segundo lies directly south of the Los Angeles International Airport, many people assume that it is difficult to find energy-efficient office buildings in El Segundo. Nothing could be further from the truth. In fact, there are over 2 million square feet of EPA Energy Star-rated, LEED-certified, and green office space in El Segundo. One example of a LEED-certified office building in El Segundo is the Campus 2100 - 2100 East Grand Avenue. Built in 1978, this property contributes over 100,000 square feet of Class A LEED Silver-certified office space to the El Segundo commercial real estate market.
California is home to six of the top 30 green office markets in the U.S. The recent National Green Building Adoption Index (2017) surveyed the top markets, to measure the growth of green building adoption. The report discovered that, over the past 12 years, the percentage of green office space has increased by about 33% since 2005.
El Segundo, CA's Top Office-Using Sectors
The El Segundo commercial real estate market sees consistent demand, year over year. Some of the top office-using sectors in El Segundo include the aerospace industry, energy, film production, and large corporate office-using business segments.
- Aerospace – Demand for white-collar office space in El Segundo comes from companies such as Boeing, Raytheon, Lockheed Martin, and Northrup Grumman.
- Energy – Chevron and NRG help to drive the demand for commercial real estate in El Segundo.
- Film Production – Rhythm & Hues Studios, along with Lightstorm Entertainment, is one of the largest employers in El Segundo.
- Corporate Office – White-collar office employment in the city is also created by the numerous corporate headquarters located here, including Mattel, DaVita, Computer Sciences Corporation, and International Rectifier.
El Segundo Demographics
- Total Population16,929
- Male Population(49.1 %) 8,313
- Female Population(50.9 %) 8,616
- Median Age38.70
- Average Household Income$120,471
- Median Household Income$92,942
- Median Income Under 25$52,169
- Median Income 25-44$118,170
- Median Income 45-64$94,175
- Median Income Over 65$70,028
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