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
    Queen Mary (Google Maps, iStock)
    Long Beach to size up Queen Mary in wake of failed redevelopment plan
    Long Beach to size up Queen Mary in wake of failed redevelopment plan
    Prologis' Hamid Moghadam and 8819 E Edison Ave in Ontario (Google Maps, Prologis)
    Prologis gets option on 177 more acres in Ontario Ranch
    Prologis gets option on 177 more acres in Ontario Ranch
    SRG's Chris Payne and Burnham Ward's Bryon Ward with rendering of New Laguna Niguel City Center (Sares Regis Group, Burnham Ward Properties)
    ‘Napa Valley-esque’ downtown to be built in Laguna Niguel
    ‘Napa Valley-esque’ downtown to be built in Laguna Niguel
    LaTerra Development's Charles Tourtellotte with 4112 Del Rey Avenue (LinkedIn, Loopnet)
    LaTerra buys Marina del Rey office complex
    LaTerra buys Marina del Rey office complex
    CIM’s Shaul Kuba with renderings of the project at 6007 Sunset Blvd in Hollywood (Getty, CIM Group)
    CIM sells site of 109-unit resi development in Hollywood
    CIM sells site of 109-unit resi development in Hollywood
    Councilman Bob Blumenfield with 5300 N. Oakdale Ave (Dean Musgrove, iStock)
    Last commercial orange grove in the San Fernando Valley slated for luxury homes
    Last commercial orange grove in the San Fernando Valley slated for luxury homes
    From left: Stockdale Capital Partners' Steven and Shawn Yari with 656 San Vicente Blvd
    Stockdale Capital gets early green light for 140K sf medical tower near Cedars-Sinai
    Stockdale Capital gets early green light for 140K sf medical tower near Cedars-Sinai
    HBC's Richard Baker with  9600 Wilshire Blvd (SFA, Cornell)
    Historic Saks Fifth Avenue complex in Beverly Hills eyed for redevelopment
    Historic Saks Fifth Avenue complex in Beverly Hills eyed for redevelopment
    arrow_forward_ios

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

    Loading...