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February 24, 2017
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Loyola Marymount University Inks Lease for 50k sf in Playa Vista

2/13/17

Loyola Marymount University (LMU) has inked a 12-year lease for 50.1k sf of space at The Brickyard, Tishman Speyer’s creative office complex in Playa Vista. Although a value was not given out, industry estimates suggest the lease came in at a rate around $5.50/sf/mo, which would multiply out to a total price tag near $40 mil.

LMU, who expects to take occupancy in June of 2017, will use the space for its School of Film and Television graduate programs. The location will offer spaces for academic and creative activities and events, placing LMU students in the heart of L.A.’s tech innovation and creativity hub.

Designed by Michael Maltzan, the newly-completed complex consists of two contemporary buildings with immediate access to Playa Vista Central Park. The project features on-site retail options, outdoor dining and meeting areas, large rooftop terraces, daycare facilities, parking, and bike storage with changing areas and showers.

The property is located at 12105 W. Waterfront Dr, just off Jefferson Blvd, near Centinela at the east end of the Playa Vista master-planned, multi-phase development. This deal represents the first lease transaction executed at the 400k sf project.

Located in West Los Angeles, Playa Vista has emerged during the past decade as a flourishing work/live/play community. Only one mile from the Pacific coastline, close to both Santa Monica and Century City, Playa Vista enjoys easy access to both I-405 and Marina Freeway and is just minutes away from Los Angeles International Airport.

NY-based Tishman also owns the Collective in Playa Vista, a five-building, 200k sf office project nearby that was completed in 2015.




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