Popular Korean food maker buys Gardena building
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Korean food company Ottogi America Inc., known for its instant noodles and curry dishes, bought a new industrial building in Gardena for $5.2 million, a real estate brokerage said today. Ottogi purchased the 41,000-square-foot building at 1650 W. El Segundo Blvd. primarily for storage, according to Grubb & Ellis, the brokerage that represented the seller, a limited liability corporation called 1650 Ocean Property. Independent real estate data provider CoStar more closely identified the sellers as Soraya & Hooshmand Soofer of Santa Monica.
The reinforced concrete structure completed this year at El Segundo Boulevard and the 110 Freeway includes a showroom that can be opened to the public and a two-story office space, according to CoStar.
Ottogi, which is the Korean word for a self-righting toy that pops back up when you knock it over, is a popular brand in Korea. Ottogi makes about 500 products including dumplings, canned fish, jam, ketchup, mayonnaise and oatmeal. The parent company’s annual sales are about $1 billion.
‘Introducing such a unfamiliar variety of foodstuffs out to the market during last 40 years,’ its English-translation website says, ‘Ottogi has been taking the initiative in improving the dietary habits of the Korean.’
-- Roger Vincent
