EV carmaker Rivian powers into El Segundo office
SUV and pickup manufacturer subleasing at Hackman Capital property
Rivian, the electric vehicle maker and Tesla rival, opened a new office and service center in El Segundo — its third facility in Southern California.
The company is subleasing the Hackman Capital Partners-owned building, a 57,000-square-foot mixed-use complex at 401 Coral Circle, The Real Deal has learned. Rivian signed the lease at the beginning of the year, but it hasn’t been previously reported.
Rivian opened its 22,000-square-foot office space in June; In April it opened the 35,000-square-foot service center portion for its electric truck and SUV customers.
Rivian is subleasing the space from Boeing, sources told The Real Deal.
Rivian has caught the attention of automotive enthusiasts and Wall Street. Last month, the company closed a $2.5 billion funding round, with participation from Amazon’s Climate Pledge Fund, D1 Capital Partners, Ford Motor Company and funds associated with T. Rowe Price. The company has raised a total of $10.5 billion since 2019.
Rivian operates a facility in Carson, where it develops electric motors and charging products, a company spokesperson said. It is headquartered in Irvine.
Once an industrial backwater, El Segundo has ascended to the ranks of creative office and tech hub in recent years. In January, Beyond Meat signed a 280,000-square-foot lease at Hackman Capital’s creative office complex at 888 Douglas Street. Electronics giant Belkin also inked a lease for around 65,000 square feet for its new headquarters at a Tishman Speyer building earlier this year.