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Lender Takes Over Renovated Southern California Office Amid Industry Distress

Steelwave, Barings Hand Back Keys to Class A Office in El Segundo

The roughly 151,000-square-foot Grand + Nash creative office building is located at 2160 E. Grand Ave. in El Segundo, California. (CoStar)
The roughly 151,000-square-foot Grand + Nash creative office building is located at 2160 E. Grand Ave. in El Segundo, California. (CoStar)

The owners of a Class A office building in the Los Angeles area have turned the property over to a lender in another sign of distress for the nation’s office market that has extended to new or renovated properties over the past year.

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