Rendering of 400 Duley Road (credit: Sentinel Development)
The investment firm Westport Capital Partners recently unloaded an El Segundo office complex for $25.3 million — before construction was completed.
Buyer Charles Kenworthy, a Culver City attorney, paid about $345 per square foot for a set of five partially-complete creative office buildings totaling 73,360 square feet.
Located at 400 Duley Road, the office buildings could be subsequently sold as individual condos, listing broker Eric Lastition of Colliers told The Real Deal. Kenworthy did not return immediate requests for comment.
The development is expected to be completed later this year. It is being developed by Sentinel Development and Live Oak Properties.
El Segundo has been a popular area for commercial properties. In the first quarter of 2016, the submarket saw the lowest vacancy in the South Bay, at 12.1 percent, The Real Deal previously reported.