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Commercial Real Estate

Overton Moore to Begin Work on $40-Million Center in El Segundo

November 28, 2000|From a Times Staff Writer

A building boom in El Segundo continues to pick up momentum with developer Overton Moore Properties saying it will begin work on its second project--a $40-million office building--in the South Bay community.

The 216,000-square-foot Douglas Technology Center will be built on a 11.5-acre parcel being purchased from Rockwell International. The two-story building at Douglas and Mariposa streets will include 43,000 square feet of space suitable for light assembly operations.

No space has been leased but the most likely occupants will be high-tech firms, said Timur Tecimer, president of Gardena-based Overton Moore. Construction is scheduled to begin within 90 days.

The center will rise across the street from another Overton Moore project, the 170,000-square-foot Crosspointe office building. Construction on Crosspointe is expected to begin early next year, a company spokesman said.

The two projects are part of a surge in new construction and renovation to house the high-tech firms that have been flocking to El Segundo. The area has become a popular location as many firms have been priced out of the Westside of Los Angeles.

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