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Flyte is a multiple building Class “A” office project located in the highly desirable El Segundo submarket in the South Bay market of Los Angeles. This asset consists of two 11-story office towers and one 10-story structure with two floors of penthouse office space and eight levels of above grade parking, prominently situated on the I-105/Imperial Highway corridor and adjacent to LAX. Acquired in May 2018, the project is currently 82% leased to high-credit tenants (AT&T, Raytheon). Swift has commenced a comprehensive campus repositioning project, centering on an expansive & highly amenitized plaza, new building lobbies and upgraded finishes that will dramatically enhance and modernize the project.
Swift acquired Rosewood Commons in May 2014 for $160 million at 10% leased. The office campus is comprised of eight buildings, totaling over one million square feet. Another prime example of campus repositioning, Swift invested $20 million into the project to offer tenants a fully amenitized campus. Onsite amenities include a full service cafeteria with an onsite tenant lounge, outdoor athletic areas including basketball courts, volleyball courts, bocce courts and a putting green, fully renovated conference center, outdoor communal dining, barbecue and meeting spaces. Rosewood Commons is now 98% leased.
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Swift acquired the 67 acre office campus in November, 2016 for $69 million, which was originally developed by Hewlett- Packard in the late 1960s. A prime example of Swift’s value-add strategy, Swift has renovated the asset with an onsite cafe, outdoor collaborative spaces, fitness center and sports courts. This fully amenitized $65 million project is close to completion.
Swift acquired Academy Tower in October of 2016 with 74% of the office space leased. Swift invested $2 million into the lobby remodel and exterior finishes with the goal of enhancing the space, driving the asset to stabilization in under a year.
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Swift acquired Borregas in August of 2013. The 2-story R&D/office buildings were acquired vacant, well below replacement cost, and offered a value-add, repositioning opportunity in an “A” location. Swift fully repositioned 1272 with a facade facelift, outdoor collaborative spaces, and project amenities. Swift executed a long term lease on one of the buildings and ultimately sold the building in two transactions in mid 2016.
The dated asset was occupied vacant in the North San Jose submarket of Silicon Valley. The asset’s exterior was re-skinned and renovated, giving it a fully updated facade and ultimately attracting Netgear to make the building their company’s headquarters.
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