Digital Domain renews 51K sf Playa Vista lease

Digital Domain, a visual effects and digital production company that’s been based in Playa Vista since 2007, has renewed its lease for the entire building at 12641 Beatrice Street, the company’s broker told The Real Deal.

The entertainment and media company will continue to occupy the 51,320-square-foot property long term. The former warehouse building was converted to creative space and includes a performance capture studio, production stages with sound-proofing and a backlot with reusable sets.

“Our client explored a variety of occupancy alternatives, but ultimately chose to remain in its current location,” said Savills Studley senior vice president Josh Gorin, who represented DD in the deal alongside Marcus Arredondo.“The building continues to support the company’s innovative visual work as well as facilitate its expansion into new realms of media.”

While rents in Playa Vista now average between $3.50 and $4.50 per square foot per month, the costs are still 20 to 25 percent less than in Santa Monica, he said.