X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

LOS ANGELES-Fox Interactive Media has signed a lease for 421,000 sf of office space at the Horizon at Playa Vista project under development by Lincoln Property Co. and ASB Real Estate, where Fox will move its headquarters next year, according to the developers. Lincoln and ASB say that Fox Interactive will occupy virtually all of the square footage in the first phase of the new 15-acre, creative-style office campus that will ultimately include nearly one million sf of office space.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.