Rockwood moves fast on new WE3 creative office project at Water’s Edge

The equity firm bought the campus, permitted a new building, and started work within 3 months

A rendering of the W3 building at Water's Edge in Playa Vista and Tyson Skillings
A rendering of the W3 building at Water's Edge in Playa Vista and Tyson Skillings

Rockwood Capital bought Playa Vista’s Water’s Edge campus in February and hasn’t wasted any time with a new construction project there.

The New York-based equity firm started work on the 190,000-square-foot WE3 building, according to the Los Angeles Times. It’s the first new building to join the 6.5-acre creative complex since developer Robert Maguire built the first two there in 2002.

Rockwood closed on the $190 million purchase from a joint venture of Maguire Investments and DivcoWest in February. It secured permits to build in April.

SPF:architects released renderings of the project last week. The boxy six-story building will have an exterior shell wall of corrugated aluminum to dampen glare but allow natural light to permeate the building

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Existing Water’s Edge tenants include the video game development giant Electronic Arts and Pop Media Group, a television station owned by CBS Corporation and Lionsgate. The complex includes a swimming pool, volleyball court, and LA Fitness gym.

Maguire built the campus long before “Silicon Beach” was a word on anyone’s tongue. Now the beachside neighborhood has tenants that rival Venice and Santa Monica, including Google.

[LAT] — Dennis Lynch