Nike doubles down at Rockwood’s Water’s Edge campus in Playa Vista

Apparel brand will occupy all 161K sf of property

Los Angeles /
Mar.March 30, 2022 09:30 AM
Nike’s John Donahoe with 5533 Waters Edge Way (Getty, Mike Kelley)

Nike has expanded its presence in Silicon Beach by filling up a 161,000-square-foot office building in Playa Vista.

The global sportswear brand has now taken up the entire WE3 building at the Water’s Edge campus at 5533 EA Way, expanding its lease by 93,000 square feet, the Commercial Observer reported.

The lease widens another name-brand footprint within a Westside submarket that’s now home to offices of Google, Facebook, Apple and Electronic Arts.

Asking rent for the two new floors Beaverton, Oregon-basd Nike added to its existing lease at WE3 is $4.75 per square foot, according to online listings, which pencils out to $5.3 million per year for the expansion.

Rockwood Capital, owner of the Water’s Edge campus, and CBRE, which has the listing, both declined to comment to the Observer about the deal. Representatives of Nike were not immediately available.

Located in a prime section of Silicon Beach, the Water’s Edge campus features three buildings totaling 430,000-square-feet of Class-A creative office space. The property features a soccer field, an Olympic-sized pool, basketball court, sand volleyball court, and gym operated by LA Fitness.

San Francisco-based Rockwood Capital bought the 6.5-acre complex in January 2018 for $190 million, then developed a third building, WE3 – for Water’s Edge building 3 – for $80 million.

The four-story, 400-foot-long building designed by SPF:architects, based in Culver City, features a sky garden and a “floating” exterior of custom corrugated aluminum that allows natural light to permeate the building. It was completed in 2020.

[Commercial Observer] – Dana Bartholomew





    Related Articles

    arrow_forward_ios
    Artist Guild Hotels' Daniel Hyde and the Palmer Building (LinkedIn, AGI)
    Hollywood’s historic Palmer Building could become hotel with rooftop restaurant
    Hollywood’s historic Palmer Building could become hotel with rooftop restaurant
    Ben Shaoul and 1457 North Main Street (Getty, LoopNet)
    NYC developer Ben Shaoul eyes 376-unit resi complex near L.A.’s Chinatown
    NYC developer Ben Shaoul eyes 376-unit resi complex near L.A.’s Chinatown
    BH Properties' Andrew Van Tuyle and 601 Potrero Grande Drive (Google Maps, BH Properties)
    Distressed asset specialist buys Monterey Park campus from Blue Shield
    Distressed asset specialist buys Monterey Park campus from Blue Shield
    Cushman & Wakefield’s Dan Broderick, Phil Brodkin; and (formerly) Cresa’s Matthew Miller (Cushman & Wakefield, Cresa)
    Cushman & Wakefield buys three Cresa offices in LA
    Cushman & Wakefield buys three Cresa offices in LA
    San Bernardino Mayor John Valdivia with Carousel Mall (City of San Bernardino, Google Maps)
    Mayor wants stake in heart of San Bernardino zombie mall
    Mayor wants stake in heart of San Bernardino zombie mall
    Harry Sidhu, Mayor of Anaheim (Getty Images)
    Feds probe Anaheim mayor over Angel Stadium sale
    Feds probe Anaheim mayor over Angel Stadium sale
     1933 South Broadway (Loopnet, iStock)
    Ara Tavitian scores $150M refi on The Reef in DTLA
    Ara Tavitian scores $150M refi on The Reef in DTLA
    Colton Mayor Frank J. Navarro (City of Colton, California)
    Colton to extend moratorium on distribution warehouses
    Colton to extend moratorium on distribution warehouses
    arrow_forward_ios

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

    Loading...