Industrial chic: Iconic ad agency signs lease at Tishman Speyer building in El Segundo

Saatchi & Saatchi will shift its new LA headquarters to the former industrial city that has drawn an increasing number of tech and media companies

Los Angeles /
Aug.August 29, 2019 02:00 PM
Chairman/CEO of Saatchi & Saatchi LA Kurt Ritter and 555 Aviation
Chairman/CEO of Saatchi & Saatchi LA Kurt Ritter and 555 Aviation

Global advertising giant Saatchi & Saatchi has signed a new lease to relocate its Los Angeles headquarters to El Segundo, joining a growing number of media and technology firms that have set up shop in the former aerospace and industrial hub.

The firm will occupy 80,000 square feet at the Tishman Speyer-owned 555 Aviation campus, The Real Deal confirmed. It will be relocating from 3501 Sepulveda Boulevard in Torrance, which is owned by Hudson Pacific Properties.

Spanning 260,000 square feet, 555 Aviation sits on nearly 14 acres. Like many commercial buildings in El Segundo, the single-story property was converted into creative office space in an adaptive reuse project.

Amenities at the campus include a fitness center, coffee shop and ping-pong tables.

Tishman acquired the building for $45 million in 2015, records show. At the time, it was fully leased by Xerox Corp. The New York-based firm renovated the building once Xerox vacated in 2017.

CoStar first reported the new lease.

El Segundo has become an increasingly attractive area for both media companies and institutional investors who are looking to take advantage of its lower prices. Last month, New York-based Vella Group paid $51 million for a 200,000-square-foot office campus that is leased to Boeing. The aerospace giant is planning to vacate the building at the end of 2020.


Related Articles

arrow_forward_ios
From left: DirecTV's Bill Morrow and Kilroy Realty's John Kilroy with 2250 East Imperial Highway
Kilroy settles with AT&T over DirecTV HQ in El Segundo
Kilroy settles with AT&T over DirecTV HQ in El Segundo
DiNapoli Capital Partners' F. Matthew DiNapoli, Park Hotels and Resorts' Thomas Baltimore and Hilton Garden Inn El Segundo (DiNapoli Capital Partners, Park Hotels and Resorts, Hilton)
Park Hotels in deal to sell Hilton Garden Inn near LAX
Park Hotels in deal to sell Hilton Garden Inn near LAX
Panattoni Development's Carl Panattoni and Rivian's R.J. Scaringe with 1441 Myford Road (Panattoni Development, Getty, Google Maps)
Rivian leases 219K sf building under construction in Tustin
Rivian leases 219K sf building under construction in Tustin
FS Investments' Michael Forman and Tishman Speyer's Rob Speyer with 555 South Aviation Boulevard (Tishman Speyer, LoopNet, iStock)
Tishman Speyer notches priciest LA office sale of year
Tishman Speyer notches priciest LA office sale of year
Tishman Speyer’s Rob Speyer and CommonWealth’s Brett Munger with 1275-1395 Crossman Avenue (Tishman Speyer, CommonWealth Partners)
LA investor buys Meta campus in Sunnyvale for $700M
LA investor buys Meta campus in Sunnyvale for $700M
Breakthrough Properties’ Dan Belldegrun, Tishman’s Rob Speyer and Bellco Capital’s Rebecka Belldegrun (Breakthrough Properties, Tishman, Bellco Capital)
Tishman Speyer, Bellco Capital JV raises $3B for life science buys
Tishman Speyer, Bellco Capital JV raises $3B for life science buys
Planned LA Chargers HQ scores financing package
Planned LA Chargers HQ scores financing package
Planned LA Chargers HQ scores financing package
Rendering of 1550 E. Franklin Ave. (Ware Malcomb, iStock)
Ocean West Capital buys 152K sf industrial campus in El Segundo
Ocean West Capital buys 152K sf industrial campus in El Segundo
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...