An account managed by BlackRock Real Assets has closed on the sale of PCT, a 1.6 million square foot, class A, multi-tenant office property and parking structure located in El Segundo, Calif., to an institutional investor.
“PCT is a unique office property that we have positioned to take advantage of the continued growth of the El Segundo market with recent improvements to the campus and amenity base. BlackRock continues to target high-quality assets in major markets in an effort to deliver attractive risk-adjusted returns to our clients,” said John Lamb, Head of US Real Estate Investment Management for BlackRock Real Assets.
PCT is located on Sepulveda Boulevard between Grand Avenue and El Segundo Boulevard, featuring 1.6 million square feet of Class A office space in three towers, a 4,900 stall structured parking garage, and extensive onsite amenities including campus-wide Wi-Fi, multiple dining options, creative outdoor work spaces and meeting areas, gym and sports court, and conference and lounge rooms.
