Segal Commercial Property Announces Major Transaction in El Segundo

LOS ANGELES - April 3, 2017 - PRLog -- Segal Commercial Properties,Inc. representing LIMO Company, LP has signed a venture between Smoky Hollow Industries and LIMO Company to improve and redevelop six industrial buildings into creative office space.

The industrial properties located near the corner of Sepulveda and El Segundo Boulevards in the Smoky Hollow District were developed by the LIMO Company on six acres starting in the 1950s.

This venture may encompass up to 150,000 square feet of creative office on approximately 260,000 square feet of land.  Currently, plans are being drawn for a multistory parking structure to accommodate the substantial parking requirements.

Lee Segal, President of Segal Commercial properties said, "the transformation of these structures are unique in that they offer the true feeling of an older industrial building with the most modern refreshment of improvements."

Smoky Hollow Industries is in charge of the redevelopment of the properties. The real estate development company based in El Segundo recognizes the unique opportunity that the LIMO Company Property offers and looks forward to partaking in the continued revitalization of Smoky Hollow, according to the company spokesperson.

This redevelopment transaction could result in an estimated $75 million in consideration at the conclusion of the redevelopment, Segal said.  Matt Crabbs of Re/Max represented Smoky Hollow Industries in the transaction.

Segal Commercial is a commercial real estate consulting firm advising customers in marketing properties to managing projects. In addition, they specialize in expert witness (http://www.segalcommercial.com/) counseling to commercial real estate litigation attorneys.