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| The Hyatt Place Los Angeles / LAX / El Segundo, a 143-key, select-service hotel located at 750 N Nash Street in El Segundo, CA |
LOS ANGELES, CA – JLL’s Hotels & Hospitality Group has closed the $49 million sale of the Hyatt Place Los Angeles / LAX / El Segundo, a 143-key, select-service hotel in El Segundo, California.
JLL represented the seller, Washington Holdings, and
procured the buyer, El Segundo-based Welcome Group, Inc. The hotel was sold
unencumbered by management.
John Strauss
Located at 750 N Nash St., the Hyatt Place
El Segundo is ideally positioned in the coastal city of El Segundo, which
features numerous corporate and leisure demand drivers.
The city is home to prominent defense and
aerospace firms as well as three sports teams: the NBA’s Los Angeles Lakers,
the NHL’s Los Angeles Kings and the NFL’s Los Angeles Chargers.
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| James Stockdale |
In addition, the Hyatt Place El Segundo is
close to Los Angeles International Airport and accessible via the 405 and 105
Freeways.
The Hyatt Place El Segundo, which was
recently renovated in 2020, offers traditional guest rooms and king suites that
average 369 square feet each.
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| Melvin Chu |
Guests have access to on-site amenities, including The Placery bar and restaurant, The Market grab-and-go outlet, a fitness center, outdoor pool and electrical vehicle charging station.
In addition, the pet-friendly hotel features
a business center and 1,054 square feet of meeting or event space.
The JLL Hotels & Hospitality team
representing the seller was led by Senior Managing Director John Strauss, Managing
Director James Stockdale and Executive Vice President Melvin Chu.
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| The Placery bar and restaurant, El Segundo, CA |
“The Los Angeles area benefits from strong corporate and leisure demand that continues to grow as the city diversifies from an entertainment mecca to an international hub for technology, media, finance, trade, manufacturing and more,” Strauss said.
“El Segundo in particular has experienced
substantial growth with major firms located near the hotel including AT&T,
Mattel, Boeing, Raytheon, and Spectrum.”
“The Hyatt Place El Segundo is well-positioned for continued growth in a dynamic market,” Chu said. “We’re grateful and honored for the opportunity to represent the seller on this important assignment, and excited for the buyer and the future of this hotel.”
JLL’s
Hotels & Hospitality Group has completed more transactions than
any other hotels and hospitality real estate advisor over the last five years,
totaling $83 billion worldwide.
The group’s 350-strong global team in over 20 countries also closed more than 7,350 advisory, valuation and asset management assignments.
Our hotel valuation, brokerage, asset
management and consultancy services have helped more hotel investors, owners
and operators achieve high returns on their assets than any other real estate
advisor in the world.
For more news, videos and research
resources on JLL, please visit our newsroom.
CONTACT:
Kristen Murphy
Director
Public Relations, Americas
JLL
One Post Office Square, Suite 3500
Boston, MA 02109
T +1 617 848 1572
M +1 617 543 4873
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