Electronics giant Belkin inks deal for new HQ

Lease at 555 Aviation in El Segundo is roughly half size of current Playa Vista space

Los Angeles /
Mar.March 12, 2021 09:19 AM
A rendering of 555 Aviation Boulevard with Belkin CEO Chet Pipkin and Tishman Speyer CEO Rob Speyer (Lake Tahoe Community College, 555 Aviation and Getty)
A rendering of 555 Aviation Boulevard with Belkin executive chairman Chet Pipkin and Tishman Speyer CEO Rob Speyer (Lake Tahoe Community College, 555 Aviation and Getty)

Consumer electronics giant Belkin International inked a lease with Tishman Speyer to shift its headquarters to El Segundo.

UPDATED, 5:50 p.m. March 12: The company will occupy roughly 65,000 square feet at 555 Aviation Boulevard, representatives for the company said. Belkin intends to leave its current HQ at The Campus at Playa Vista for the new location in the fourth quarter. The company’s new deal is for roughly half the square footage of its 150,000 square feet at the Heitman-owned Playa Vista property.

Belkin shifted to remote working last year, as many companies were forced to do. And like many companies, it is shrinking its office footprint.

“The traditional ways organizations operated yesterday simply may not work in the new normal of today or tomorrow,” Chief Executive Steve Malony said, according to the Los Angeles Business Journal.

Office vacancy across Los Angeles has been steadily rising since the pandemic hit.

Belkin joins advertising firm Saatchi & Saatchi at the 260,000-square-foot El Segundo creative office. The ad agency leases 80,000 square feet there.
Tishman bought 555 Aviation in 2015 for $45 million, and renovated the complex when longtime tenant Xerox moved out two years later.
Tishman secured a $125 million refinancing in October, with the debt provided by Royal Bank of Canada. [LABJ] — Dennis Lynch 

This story was updated with square footage figures from Belkin and an update to Pipkin’s position with the firm.


Related Articles

arrow_forward_ios
King Street, AIMCo team up with East End to amass production studios
King Street, AIMCo team up to amass production studios
King Street, AIMCo team up to amass production studios
Gemdale USA co-president Michael Daly and Laterra Development CEO Charles Tourtellotte with the Hollywood property (LoopNet, Gemdale, Laterra)
Gemdale USA, LaTerra put Netflix-leased office campus in Hollywood up for sale
Gemdale USA, LaTerra put Netflix-leased office campus in Hollywood up for sale
NY Investor’s $106M Buy in Burbank Sets Office Mark in LA
Investor’s $106M Buy in Burbank Sets Office Mark in LA
Investor’s $106M Buy in Burbank Sets Office Mark in LA
(Getty, Photo Illustration by The Real Deal)
Office subleasing picks up in LA, tops new listings in Q3
Office subleasing picks up in LA, tops new listings in Q3
Apple unveils 500K sf Culver City expansion plans
Apple unveils 500K sf Culver City expansion plans
Apple unveils 500K sf Culver City expansion plans
NorCal Investor pays $81.5M for Beverly Hills medical office
NorCal Investor pays $81.5M for Beverly Hills medical office
NorCal Investor pays $81.5M for Beverly Hills medical office
Fundrise CEO Ben Miller and 4202-4216 West Jefferson Boulevard (LinkedIn via Miller)
Fundrise signs creative ad firm to 27K sf at South LA development
Fundrise signs creative ad firm to 27K sf at South LA development
Kilroy Realty CEO John Kilroy, DirecTV CEO Bill Morrow and Swift Real Estate Partners founder Christopher Peatross (LoopNet, Kilroy, DirecTV, Swift)
DirecTV wants to sublease 500K sf of its El Segundo HQ
DirecTV wants to sublease 500K sf of its El Segundo HQ
arrow_forward_ios

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

Loading...