Tishman Speyer to Break Ground on Newest Playa Vista Development | Announcements | Tishman Speyer


Tishman Speyer to Break Ground on Newest Playa Vista Development

Los Angeles, CA January 30, 2014

Project Design Promotes Integrated Indoor/Outdoor Lifestyle Adjacent to Amenity-Rich Park

Leading global real estate developer and owner Tishman Speyer today announced plans to move forward with a 200,000-square-foot creative office project in the Playa Vista master-planned community. Tishman Speyer and partner Northwood Investors will break ground in April, with delivery scheduled for March 2015.

The project, which will be constructed according to LEED Gold standards, will consist of five two-story free-standing buildings on a nine-acre site at 11975-12015 Bluff Creek. Designed by the award-winning architecture firm Shimoda Design Group, it will feature open floor plans, double-height lobbies, floor-to-ceiling glass, pre-cast concrete and 13 to 23 foot ceilings. Floor sizes will range from 16,000 to 23,000 square feet. Unique amenities will include 18,000 square feet of private outdoor gardens that tenants can use for meetings and after-work barbeques fostering an integrated indoor/outdoor lifestyle.

Tishman Speyer’s new development is adjacent to the nine-acre Campus Central Park, which offers immediate access to a variety of amenities including a soccer field, basketball and sand volleyball courts, lushly landscaped gardens and an outdoor amphitheatre that hosts a range of performances including theatrical productions, movies and concert events.

The project will complement The Campus at Playa Vista, a successful Tishman Speyer development that was sold in 2012. The Campus achieved 97 percent occupancy with a tenant roster that includes Belkin, USC Institute for Creative Technologies, Facebook and ICANN. Other tenants that have chosen Playa Vista include technology, entertainment and advertising firms such as Google (YouTube), Electronic Arts, Konami Games, 72 & Sunny, TMZ, Deutsch and Microsoft.

“Playa Vista stands out as a model urban master-planned community and we are pleased to play a role in its development,” said (XXX). “We are now moving ahead with this next phase of our investment activity in response to the extraordinary demand for lifestyle-oriented work environments in this submarket.”

In addition to the project announced today, Tishman Speyer holds 400,000 square feet of office space entitlements for future development on Campus Center Drive.

Playa Vista, a 1,087 acre master-planned development in West Los Angeles, is one of the most attractive mixed-use communities on the West Coast, boasting over 6,000 residential units (3,200 units delivered to date, the balance currently under construction with delivery scheduled for 2015), 1.7 million square feet of Class A office space (partially completed) and a Whole Foods-anchored neighborhood “lifestyle” retail center scheduled for completion later this year. In addition, approximately 750 acres of the original 1,087 acre Playa Vista community has been designated as permanently preserved open space. Nearly 4,000 people currently live and work in Playa Vista.

About Tishman Speyer (www.tishmanspeyer.com)
Tishman Speyer is one of the leading developers, owners, operators, and asset managers of first class real estate worldwide. Active across North America, Europe, South America and Asia, Tishman Speyer is relied upon by many of the world's most prestigious corporations to meet their office space needs. As of September 30, 2013, the firm had acquired, developed and/or managed a portfolio of over 127 million sq. ft. with a total value of approximately USD $66.8 billion since its founding in 1978. Signature assets include New York's Rockefeller Center and the Chrysler Center, São Paulo's Torre Norte, Ventura Corporate Towers in Rio de Janeiro, and OpernTurm in Frankfurt. Tishman Speyer also has projects at different stages of development currently in Brasília, Chengdu, Frankfurt, Gurgaon, Hyderabad, Paris, Rio de Janeiro, San Francisco, São Paulo, Shanghai, Suzhou and Tianjin.

About Northwood Investors (www.northwoodinvestors.com)
Northwood Investors is a privately-held real estate investment advisor that was founded in 2006 by John Z. Kukral, the former President and CEO of Blackstone Real Estate Advisors. Northwood invests alongside institutional and private clients in a broad range of real estate and real estate-related investment opportunities globally, with over $2 billion of equity capital currently under management. Northwood invests across the capital structure, including debt, equity and securities investments. The firm invests in a range of real estate asset classes, including hotel, office, retail, residential and industrial properties. The firm's investment strategies include single property acquisitions, property development and redevelopment, multi-property portfolio acquisitions, joint ventures, operating companies and public and private securities.