April 11, 2019— Avison Young, the world’s fastest-growing commercial real estate services firm, announced today that it has negotiated a new, three-year, 3,722-square-foot (sf) creative office lease with BottleKeeper at 219 W. Grand Ave in El Segundo, CA.
The property is within El Segundo’s growing Smoky Hollow district, which is west of Pacific Coast Highway and two blocks from the restaurants on Main Street. BottleKeeper will be tripling in size from its current space, also located within the Smoky Hollow district.
Avison Young Principal Ted Simpson and Erik Stiebel, an Associate, who are both based in the company’s downtown Los Angeles office, represented BottleKeeper. The landlord, The Ruane Group was represented by Matt Crabbs with Re/Max Estate Properties.
BottleKeeper makes the original insulated stainless steel container of the same name that keeps beer bottles cold longer and protected from gravity, and was featured on the television show Shark Tank in November 2018, where it received a $1 million combined investment offer from Mark Cuban and Lori Greiner.
The 219 W. Grand Avenue property was recently converted from a bakery to a creative office building and features a functional rooftop for company gatherings and events. The finishing touches are currently being completed on the renovation. BottleKeeper will occupy the building in its entirety with move-in anticipated for May 2019.
“Our client wanted to stay in El Segundo, to occupy creative office space, and to be able to walk to amenities,” comments Stiebel. “However, the demand for this type of space far outweighs the supply in El Segundo. I literally walked the streets of El Segundo to find the ideal space that met BottleKeeper’s requirements.”
Stiebel also observed that the Smoky Hollow district of El Segundo is seeing an increase of commercial and industrial buildings being converted to creative office space as it continues to evolve into a desirable market for businesses to establish roots and grow.