Facebook signs lease for 35K sf in Playa Vista

Playa Jefferson lease slated to cost as much as $1.5M a year

TRD LOS ANGELES /
Feb.February 01, 2016 09:30 AM

Facebook will soon spread out in its largest Southern California office.

The Menlo Park company signed a lease with landlord Vantage Property Investors for 35,000 square feet at the Playa Jefferson campus at 12777 West Jefferson Boulevard in Playa Vista, The Real Deal has exclusively learned.

The space is under construction. Facebook will move into the five-building, 250,000-square-foot creative office campus in the spring or early summer, sources said.

Current asking rates at Playa Jefferson place the lease value at $1.5 million a year. However, sources said the lease was signed before the new year at a slightly lower rate. Rents are higher now that only 15,000 square feet remain unclaimed on the campus.

There were reports back in 2011 that the social media giant had signed a letter of intent to take a significantly smaller 8,000 to 15,000 square foot space at the Campus at Playa Vista. Sources in the area said the company will be moving out of that space into its newer digs.

Peter Best, Lisa St. John and Owen Fileti of L.A Realty Partners represented Vantage Property Investors in the lease deal.

The brokers, Vantage Property Investors and Facebook could not be reached for comment.


Related Articles

arrow_forward_ios
Jesse Weinberg

Top Keller Williams agent bolts to start own Westside brokerage

LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

La Mirada industrial building

Clarion pays $77M for La Mirada industrial project

arrow_forward_ios
Loading...