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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
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