Cosmetics giant L’Oréal inks lease at Hackman’s El Segundo campus

Company will take 100K sf at 888 North Douglas; joins Beyond Meat in complex

Los Angeles /
Apr.April 29, 2021 09:35 AM
 L’Oréal CEO Stéphane Rinderknech and Hackman Capital CEO Michael Hackman with a rendering of the project (888 Douglas)
Hackman Capital CEO Michael Hackman and L’Oréal CEO Stéphane Rinderknech with a rendering of the project (888 Douglas)

L’Oréal, the world’s largest cosmetics company, is taking 100,000 square feet at Hackman Capital Partners’ creative office campus in El Segundo.

The company’s new lease begins next year at 888 N. Douglas Avenue in what it’s calling its “second headquarters,” Commercial Observer reported. L’Oreal has its headquarters at Hudson Yards complex on Manhattan’s Far West Side.

Beyond Meat, the plant-based products manufacturer, in January signed a 12-year lease to occupy 280,000 square feet at the complex. In that deal and amid an abysmal L.A. office market, Hackman gave Beyond Meat a full year of rent for free and agreed to provide $100 per square foot for improvements.

The two leases account for almost all of the space available at the former aerospace and transportation manufacturing complex. Hackman plans to redevelop two other buildings there in the future.

L’Oréal said it will consolidate its workforce from several brands at its new offices, according to the report. Last year, the Paris-based multinational adopted a hybrid work policy, with employees working from an office 60 percent of the time.

The company, which has around 88,000 employees worldwide, last fall announced it would cut 400 jobs in its U.S. luxury division. It also plans to close some brick-and-mortar stores to invest in e-commerce.

[CO] — Dennis Lynch 


Related Articles

arrow_forward_ios
Rick Magnuson, founder, GI Partners, and One Wilshire (GI Partners, Council on Tall Buildings and Urban Habitat, iStock)
DTLA tower gets $389M refi from Goldman Sachs
DTLA tower gets $389M refi from Goldman Sachs
Office specialist starts 2022 with deal for industrial park
Office specialist starts 2022 with deal for industrial park
Office specialist starts 2022 with deal for industrial park
Sony Music Publishing plants flag in Hollywood
Sony Music Publishing plants flag in Hollywood
Sony Music Publishing plants flag in Hollywood
Onni Group picks up Hollywood office property with big potential
Onni Group picks up Hollywood office property with big potential
Onni Group picks up Hollywood office property with big potential
$200M refi for Century City office tower
$200M refi for Century City office tower
$200M refi for Century City office tower
Here are LA’s top office sales in 2021
Here are LA’s top office sales in 2021
Here are LA’s top office sales in 2021
Skya Ventures buys Ventura office complex to turn into apartments
LA residential specialist adds Ventura office complex
LA residential specialist adds Ventura office complex
Hines’ pays $42.5M medical bill in Torrance
Hines’ pays $42.5M medical bill in Torrance
Hines’ pays $42.5M medical bill in Torrance
arrow_forward_ios

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

Loading...