Jerde Partnership is moving its global headquarters to the CalEdison Building in Downtown Los Angeles — formerly known as “One Bunker Hill” — after nearly three decades spent on the sandy beaches of Venice.
The architecture firm will move in February from its current home at 913 Ocean Front Walk to a full 20,000-square-foot floor at the former headquarters of Southern California Edison Co., owned by Nelson and Chris Rising’s Rising Realty Partners and Lionstone Investments, the Los Angeles Times reported.
Venice has recently seen rents skyrocket and traffic increase as Silicon Beach companies like Snap have spread out in the area. Jerde said the move is likely to ease commuting burdens for many of its employees and help recruit new staff who won’t have to face the fear of Venice’s high housing costs.
“Moving to Downtown Los Angeles from Venice Beach reestablishes our company as a Los Angeles architectural firm,” Paul Martinkovic, an executive of Jerde, said in a company statement. “In Downtown, we have 360 degrees of quality of life, better commutes and accessibility to more affordable housing for our existing employees.”
Carle Pierose and Rob Erickson of Industry Partners represented Rising in the lease. Jennifer Frisk and David Kluth of Newmark Knight Frank represented JERDE.
Jerde designed the Bellagio Las Vegas resort, Universal CityWalk and Santa Monica Place, among others. Approximately 70 employees will move to its new headquarters.
CalEdison, located at 601 W. Fifth Street at the corner of Grand Avenue, spans 277,000 square feet across 14 floors. Other tenants at the property include Akerman LLP, General Growth Properties, Narrative Capital and Practice Aligned Resources. There is a new Sweetgreen at street level. [LAT] – Natalie Hoberman