Terms of the deal were not disclosed, but industry sources peg the 12-year lease in the range of $350 million. Fox Interactive will consolidate its Los Angeles facilities, currently housing companies including MySpace, Fox Sports Interactive and Rotten Tomatoes. The move will relocate more than 2,000 of the company's employees onto the campus by June 2009.

The first phase of Horizon project will consist of two, five-story buildings surrounded by pedestrian pathways and open courtyards. The buildings, designed by Johnson Fain, will be seeking Gold LEED certification.

The project site is at the intersection of Bluff Creek Drive and Campus CenterDrive, in the Campus section in the eastern portion of the mixed-use Playa Vista development. For much of the 20th century, this property was home to the Hughes Aircraft Co.

David Binswanger, executive vice president of Lincoln Property Co., cites the project and the Fox Interactive lease as indications of the "tremendous demand for class A office space on the Westside of Los Angeles." As aresult of this deal, Lincoln and ASB will move forward immediately on thesecond phase of Horizon, which will total nearly 350,000 sf, Binswanger says.

Lincoln and ASB were represented by Steve Walbridge, Eric Olofson and Carl Muhlstein of Cushman & Wakefield. Fox Interactive was represented by Studley.

The Fox Interactive lease marks the second major deal announced in recent days for the Playa Vista project. The other was Tishman Speyer's kickoff of construction on the 325,000-sf, four-building first phase of its 1.6-million-sf, 64-acre Campus at Playa Vista, which Tishman is building in a joint venture with Walton Street Capital LLC. Los Angeles-based electronics firm Belkin International has signed for 150,000 sf of office space for a new headquarters at the new campus, where the first phase of construction is slated to be completed in late 2009.