Sandstone Properties scores big profit on office complex in hot El Segundo (The Real Deal)

Sandstone Properties sold an office building in El Segundo for $31 million, completing an off-market deal at a time when the city is experiencing a real estate boom. The Sherman Oaks-based Sandstone acquired the 55,000-square-foot vacant building for $4 million in 2004. Sandstone sold the property 2221 PPA, LLC, operated by the firm’s founder, Eric Kroh.