Walmart leases warehouse, creative office in Playa Vista
Takes 150K sf in Silicon Beach, including space formerly occupied by Toms shoes
Walmart is leasing a creative office building and an adjacent warehouse in Playa Vista, taking over space previously occupied by Toms Shoes.
The Bentonville, Arkansas-based retailer signed a lease to take around 75,000 square feet at 5404 Jandy Place, according to a recent Savills office report. Sources familiar with the deal said Walmart leased an 75,000-square-foot adjacent warehouse at 5405 Jandy Place. Walmart did not respond to a request for comment.
The buildings are owned by Karney Properties, records show, a Santa Monica-based investment firm run by Aliza Karney Guren and Susanna Karney Flaster. Karney Properties did not respond to a request for comment.
The office property was put up for lease in September 2020, and Toms left the property in October 2021, according to marketing materials on LoopNet.
The 74,583-square-foot office portion is zoned for light industrial. Around 270 employees can fit in the creative office building, which totals two floors.
Next door, at 5405 Jandy Place, stands a 71,148-square-foot warehouse that is currently vacant.
The property is located about a mile from the 405 freeway and just three miles north of LAX, making it a prime spot for e-commerce distribution.
The office space is an unusual move for Walmart and puts the retailer amid a pool of tech giants in Playa Vista — Facebook, Google and Microsoft all have offices in the area.
Walmart is one of the few retail companies that signed office deals in Los Angeles in the first quarter of this year, according to Savills. Most new leasing activity, including relocations and lease extension, was driven by tech, media and entertainment firms.
However, Playa Vista has attracted other big names with retail operations to the area in recent months. Nike, the global sportswear brand, added 93,000 square feet to an existing lease at 5533 EA Way in Playa Vista in March.