Game developer

BLT Enterprises Buys Video Game Developer’s Los Angeles Office – Business Observer

Game on, El Segundo.

The owner of the North American headquarters of Nexon — South Korea’s largest video game developer — sold the property to BLT companies.

Montana Avenue Capital Partners sold the 49,307 square foot creative office in El Segundo, Calif., for $27.3 million. Newmark advertised the deal and represented the seller.

The small coastal town just south of LAX has attracted perhaps the most diverse tenant base in the area, with L’Oreal inaugurates its new headquarters earlier this week alongside Beyond meatand with the LA’ chargers New head office and training center now under construction. And Nexon’s two-story office at 621 Hawaii Street is positioned between the Raytheon and Northrop Grumman aerospace and defense industry buildings in El Segundo.

In recent years, more than 2 million square feet of retail space in the 11-square-mile city has been renovated, is under construction, or is slated for adaptive reuse, according to Newmark.

“The South Bay, and El Segundo in particular, continues to be where many Los Angeles investors want to invest post-COVID,” Newmark said. Sean Fulp said in a statement. “All the more, [Nexon]The credit and industry of , along with the building’s low-rise profile and creative interior layout, sparked tremendous interest in 621 Hawaii.

Fulp of Newmark, Ryan Plumer, Marc Schuessler and Geoff Ludwig represented Montana Avenue Capital, which had a small wave of sales this year. The company sold a 5.2 acre property in Torrance at Brookfield, and a 5,300 square foot life science center building in Marina Del Rey.

Gregory Cornfield can be reached at [email protected].