PLAYA VISTA, Calif.--(BUSINESS WIRE)--Cushman & Wakefield represented Fox in three new sublease deals for more than 57,000 square feet at The Bluffs at Playa Vista. The new tenants are expected to move into the office space, formerly known as Horizon at Playa Vista, before the end of the year. This represents the largest collection of office sublease deals to close on the Westside this quarter.
CyberCoders, a premier recruiting and job search firm, contracted for a nine year and nine month sublease. The firm moved into the Fox sublease space in the beginning of August. Discus Dental will begin a four year and seven month sublease in October, and Rovi – a digital entertainment technology firm – will move into the building at the end of 2011 to begin its five year sublease. These companies join several other firms who have chosen to locate and renew at Playa Vista, including Electronic Arts, USC, Belkin, and X Prize.
Cushman & Wakefield and Fox worked closely with J.P. Morgan Asset Management, which acquired the two-building office project on behalf of institutional investors earlier this year. The ownership team is currently in the process of launching a new marketing campaign with the new brand name The Bluffs at Playa Vista.
“We are thrilled to establish new relationships with companies that will add to the energy of this beautiful commercial campus,” said Eric Duncanson, Executive Director at Cushman & Wakefield. “We are coming off a few tough years for commercial space, so the recent steady stream of new subleases is a real testament to the quality of these new office buildings, all the amenities that Playa Vista has to offer, and the strong partnership between Fox and J.P. Morgan Asset Management that streamlined the sublease process. We look forward to closing even more deals in the coming months.”
The two office buildings that comprise the Fox sublease are surrounded by pedestrian pathways and open courtyard spaces and incorporate a number of modern features including a progressive contemporary design by renowned architecture firm Johnson Fain, creative interiors by OKB Architects, as well as state-of-the-art workplace technology. In 2010, The Bluffs at Playa Vista was awarded Gold LEED certification by the U.S. Green Building Council, making it the first ground-up office building construction in Los Angeles to achieve distinction in the category.
The Fox sublease space is situated at the intersection of Bluff Creek Drive and Campus Center Drive, adjacent to the Westchester Bluffs in “The Campus” section of the mixed-use Playa Vista development. The Campus is home to office developments, the famous “Spruce Goose” hangar, the Hercules Campus, several restaurants and cafés, along with the recently opened Campus Central Park. The new eight-acre park features a turf soccer field, sand volleyball court, and an outdoor Bandshell for concerts, plays, movies and theater performances throughout the year.
Today, more than 6,500 people live in Playa Vista, the first mixed-use community to be built in West Los Angeles in the last 50 years. The eastern portion of the community features a thriving retail district surrounding Concert Park, nearly 110 acres of open space, a 650-seat public elementary school currently under construction, and a weekly Farmers’ Market. The Campus is situated adjacent to the recently approved “Village,” which will ultimately transform the former air strip and manufacturing site into the heart of the community by linking Playa Vista’s primary residential and commercial areas with new stores and restaurants, public parks and homes.
Over the next several months, Cushman & Wakefield will focus on subleasing the 308,000 square feet of remaining sublease space with a term through April 30, 2021. Those interested in learning more should contact Eric Duncanson at 213-629-6522.