After receiving final approval from the City of El Segundo, the Los Angeles Lakers have completed the purchase of a five acre property located at the northwest corner of Mariposa Avenue and Douglas Street from CDC/Mar Ventures, it was announced today by team President and co-owner Jeanie Buss. The Lakers will build their new corporate headquarters, including a practice facility, a 750-seat exhibition court and offices on the property, which is part of the Elevon at Campus El Segundo development.

“With its proximity to the airport and beaches, clean air, diverse businesses, and wonderful community, El Segundo is the perfect place for us to be,” said Buss. “We’ve been here for the past 15 years with great success, and we’re thrilled to secure the perfect spot to expand on that success and remain for many years as a part of this vibrant and growing area.”

Morley Builders is the general contractor hired to construct the new ROSETTI designed facility, which is expected to be completed by the spring of 2017.

In addition to housing the Lakers, the facility will also be home to the Los Angeles D-Fenders of the NBA’s Development League, where the team will play their home games on the exhibition court.