621 Hawaii Street 621 Hawaii Street
El Segundo, CA 90245

  • Unpriced

    Asking Price

  • Single

    Tenancy

  • 100%

    Occupancy

  • 5.29 Years

    WALT

  • Office

    Property Type

  • 49,307

    Square Feet

Offering Summary

Offers Due 12/7/2021

Address

  • 621 Hawaii Street
    El Segundo, CA 90245

Pricing

  • Asking PriceUnpriced
  • WALT5.29 Years
  • NOI$1,368,334
  • Rents Below Market33.00%

Details

  • Property TypeOffice
  • Listing StatusOffers Due 12/7/2021
  • Square Feet49,307
  • Occupancy100%
  • Year Built1965
  • Year Renovated2019
  • Building(s)1
  • Stories2
  • Parking Ratio2.31/1,000
  • Acres1.97
  • APN4138-010-005
  • TenancySingle

Address

  • 621 Hawaii Street
    CA 90245

Pricing

  • Asking PriceUnpriced
  • WALT5.29 Years
  • NOI$1,368,334
  • Rents Below Market33.00%

Details

  • Property TypeOffice
  • Listing StatusOffers Due 12/7/2021
  • Square Feet49,307
  • Occupancy100%
  • Year Built1965
  • Year Renovated2019
  • Building(s)1
  • Stories2
  • Parking Ratio2.31/1,000
  • Acres1.97
  • APN4138-010-005
  • TenancySingle

Description

Newmark is pleased to present the opportunity to acquire the fee simple interest in 621 Hawaii Street (the “Property”), a 49,307-square-foot office building in El Segundo, California.

The Property is 100% NNN-leased to Nexon America, Inc. into 2027. Nexon America, Inc. is the North American subsidiary of the publicly traded Nexon Co., Ltd (TYO: 3659), South Korea’s largest video game developer and publisher, headquartered in Tokyo, Japan.

621 Hawaii Street serves as the North American headquarters for Nexon, which moved to the Property in 2019. Nexon America’s lease is backed by a corporate guarantee by the parent company with a credit rating of A-/Stable by the Japanese Credit Rating Agency.

The Property is between the Raytheon and Northrup Grumman Campuses in the heart of El Segundo’s aerospace and defense industry. In recent years, approximately 2.3 million square feet have been renovated, are under construction, or are planned for adaptive reuse to meet the latest trends in creative office occupancy demand. These projects will continue to appeal to new media, creative, and technology tenants that want modern space options at competitive rents relative to Silicon Beach and will drive new tenants to El Segundo.

Investors stand to benefit from acquiring a newly renovated, institutional-quality, Class A headquarters location with over five years of remaining lease term from South Korea’s largest video game developer and publisher with a strong corporate guaranty from an investment-grade parent company.

Deal Team

Sean Fulp

Sean Fulp

Executive Managing Director

310-407-6596 sean.fulp@nmrk.com

CA RE Lic. #01389064

Ryan Plummer

Ryan Plummer

Managing Director

310-407-6570 ryan.plummer@nmrk.com

CA RE Lic. #01765854

Mark Schuessler

Mark Schuessler

Managing Director

310-201-2075 mark.schuessler@nmrk.com

CA RE Lic. #02033871

Jordan Garcia

Jordan Garcia

Financial Analyst

310-201-2072 jordan.garcia@nmrk.com

CA RE Lic. #02090086