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
Clockwise from top left: Harrison Street CEO Christopher Merrill, 2825 Santa Monica Boulevard, Stockdale Capital Partners' Steven Yari and Shawn Yari and 9090 Wilshire Boulevard (Harrison Street, Stockdale Capital Partners) 
Harrison Street buys Westside medical offices for $156M
Harrison Street buys Westside medical offices for $156M
GI Partners' Rick Magnuson and One Wilshire (GI Partners, One Wilshire)
Here’s how much tenants are paying at One Wilshire in DTLA
Here’s how much tenants are paying at One Wilshire in DTLA
From left: Aron and Efram Harkham in front of 2625 Townsgate Road (LinkedIn/Aron Harkham, Luxe Hotels & Harkham Ventures, iStock)
Harkham family buys Westlake Village creative office
Harkham family buys Westlake Village creative office
Spring Place's Christian Toraldo Spring Place in Beverly Hills (Twitter, Spring Place)
Beverly Hills co-workspace faces sanctions on charges of hard partying
Beverly Hills co-workspace faces sanctions on charges of hard partying
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
Hudson Pacific Properties' Mark Lammas and Harout Diramerian (Hudson Pacific, iStock, RIOS)
Hudson Pacific posts loss, downplays Netflix woes
Hudson Pacific posts loss, downplays Netflix woes
 GPI Companies’ Drew Planting and Cliff Goldstein (GPI, Loopnet)
GPI looks for big return on 110K sf Burbank medical complex
GPI looks for big return on 110K sf Burbank medical complex
Los Angeles (iStock)
Office vacancy continues upward across LA
Office vacancy continues upward across LA
arrow_forward_ios

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

Loading...