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The Real Deal Los Angeles

Tishman Speyer plans to turn Hyperloop One HQ into eight-story office

New plans call for 222Ksf of creative office space
February 16, 2017 09:30AM

The property at 2159 East Bay Street and Tishman Speyer CEO Rob Speyer

Tishman Speyer is planning to turn the Hyperloop One campus in the Arts District into an eight-story office building, city documents show.

The development calls for a 138-foot structure with 222,000 square feet o creative office space at the 1.7-acre site at 2159 East Bay Street. Space would also be set aside for retail and restaurant uses as well as at least 444 parking spaces, according to Urbanize, which first spotted the plans.

The plans, which would require a zoning change, were filed less than a month before a March ballot of Measure S, an initiative that would place a two-year moratorium on projects counting on amendments to the zoning code.

The New York real estate giant purchased the four-building Hyperloop One headquarters for about $25 million in October, The Real Deal reported.

The firm’s L.A. footprint, which includes two new developments in Playa Vista — the Collective on West Bluff Creek Drive and the Brickyard at 12105 & 12126 West Waterfront Drive, has been growing. The company also owns the CNN Building in Hollywood, which it bought for $127 million last year.

A spokesperson for Tishman did not immediately provide comment on the plans. [Urbanize]Cathaleen Chen