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LIMO Company, LP has signed an agreement with Smoky Hollow Industries, LLC to redevelop a series of mid-century industrial buildings in El Segundo into a new research and development facility.

The properties, located on a six-acre site at El Segundo and Sepulveda Boulevards, features a series of brick-and-mortar buildings which were developed between the 1950s and the 1970s.  The project could add up to 200,000 square feet of rentable space to the property, as well as a four-story parking garage capable of accommodating up to 400 vehicles.

LIMO was represented by Lee Segal of Segal Commercial, while Smoky Hollow was represented by Matt Crabbs of RE/MAX Estate Properties.

El Segundo, a longtime hub for the aerospace industry, has increasingly turned towards high technology to fill the array of underutilized industrial buildings located within the city.  Last year, Hackman Capital Partners announced plans for a similar project which would repurpose a former Northrop Grumman facility as approximately 550,000 square feet of creative offices.

Rendering courtesy of Segal Commercial

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Just west of the Harbor Freeway, Lion Real Estate Group is now wrapping up construction at a new apartment complex overlooking the Downtown skyline. Eastview, as the property at 327-411 Boylston Avenue is known, consists of a seven-story building featuring 121 one- and two-bedroom apartments above parking for 145 vehicles.  Plans call for 14 of the residential units to be set aside as affordable housing.