Google adds 53K sf in Playa Vista
Takes space at EJM Equities’ The Bluffs campus across from Spruce Goose offices
Google is growing its cluster of offices in Playa Vista.
The company signed a lease earlier this for about 53,000 square feet of space at The Bluffs office campus, according to a report from Savills.
Google did not immediately respond to a request for comment.
Edward J. Minskoff Equities has owned The Bluffs since 2016, when the New York-based investment firm paid $413 million for the property, according to public records.
The office campus totals 500,000 square feet and has a restaurant, wine bar and cafe onsite. Fox, Flexport and entertainment production company Aftershock Studios all occupy space at the complex.
The property is located across the street from Google’s office at Spruce Goose — an historic airplane hangar that Google converted into a 450,000-square–foot office and event space. The company moved into the property in 2019.
YouTube, owned by Google, occupies a building next door that is owned by affiliates of Invesco, records show.
Google’s presence in Playa Vista has helped the Westside neighborhood brand itself as part of Silicon Beach — a hub for technology companies and startups.
Facebook, Microsoft and prominent gaming companies including Electronic Arts and Activision Blizzard, all have office space in Playa Vista.
Google’s new lease hasn’t led to much relief for Playa Vista’s overall office market. About 32 percent of all office space in Playa Vista was vacant in the first quarter of this year, according to Savills. Rents, however, are among the highest in Los Angeles for office space.
In the first quarter of 2022, the average asking rent for offices in the Playa Vista and Marina del Rey area were around $5.49 per square foot per month — down from $5.56 in the fourth quarter.