MANHATTAN BEACH, CA—True Religion Apparel is moving its corporate headquarters to Manhattan Beach, CA. The denim designer and manufacturer has signed a 72,246-square-foot office lease in a three-story building with Continental Development Corp.
This is quite a move considering that True Religion's headquarters was formerly in the City of Vernon, CA. The move illustrates the highly talked-about office migration to the South Bay area. This year alone, office leasing in the South Bay market is up 6.5% over the previous year with an absorption rate of 1.2 million square feet. As a result, many developers and owners are either renovating existing office campuses or developing ground-up spaces, including Continental Development Corp. The developer has partnered with Mar Ventures to build the elevon campus in El Segundo. The project is will have 15 buildings upon completion in early 2015.
Located at 1888 Rosecrans Avenue in Manhattan Beach, the property is a freestanding building and True Religion will occupy the full space. The company plans to renovate the building to accommodate its needs. Cushman & Wakefield's global portfolio solutions group, which includes executive director John Minervini, senior director Erik Larson and senior director Robin Dodson and associate director Chris Tolles, along with EVP Michael DeSantis and senior associate John Doylerepresented True Religion in the transaction. Cushman & Wakefield declined to comment on the transaction. Cushman & Wakefield senior project manager Nasim Yalpani will oversee the renovation project.
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