Mar Ventures Selling GSA Building for $37.5M
El Segundo, CA-based Mar Ventures Inc. is selling a 32,980-square-foot office asset in El Segundo, that’s leased by the General Services Administration and serves as a Los Angeles Military Entrance Processing Station (MEPS). The $37.5-million listing is being handled by Tulsa, OK-based Stan Johnson Company.
Developed on 4.23 acres in 2009 as a build-to-suit for the GSA and MEPS, the Class A building, located at 1776 East Grand Ave. is the largest of 65 facilities nationwide for the operator.
Stan Johnson Co.’s Ken Hedrick, Sam Alison, Jerry Hopkins, Andrew Ragsdale and Scott Briggs are marketing the property. Hedrick says the asset is stabilized and leased to a AA+ credit-rated tenant, with more than eight years remaining on the lease. The location, building quality and “mission-critical” nature of the occupier makes it an attractive investment.