Another Office Complex Begins Work in Playa Vista

Google's impending arrival in Playa Vista has set off a monumental shift in the West Los Angeles office market.  After years of searching for space in traditional creative hubs such as Santa Monica and Venice, numerous tech firms are now looking further south in order to situate themselves closer to the Bay Area heavyweight.  With this changing landscape in mind, a New York-based developer has broken ground on a speculative office complex directly across the street from Google's future twelve-acre campus.

According to commercial real estate publication Bisnow, Tishman Speyer is currently in design development for 407,000 square feet of office space Playa Vista Parcels 1 and 2.  The project, slated for completion in late 2016, will be split between five- and six-story structures at 12126 and 12099 West Waterfront Drive.  As of this week, preliminary grading and site preparation is underway for both of the low-rise buildings.

The speculative development begins work as Tishman Speyer nears completion on a nearby campus-style project known as the Collective at Playa Vista.  Slightly over 130,000 square feet of the five-building complex is already leased, thanks to Yahoo's recent decision to relocate from its current Santa Monica operations.  Bisnow also reports that Tishman Speyer is in negotiations with 72,000-square-foot tenant who would bring the development to full occupancy.

Plans Emerge for Playa Vista's Remaining Office Parcels

12099 and 12126 W. Waterfront Drive

With Yahoo! on the cusp of signing a 130,000-square-foot lease in the under-construction Collective campus, Tishman Speyer Properties is now forging ahead with plans for their remaining Playa Vista real estate.

According to a November case filing from the Department of City Planning, the New York-based developer intends to construct two low-rise office buildings adjacent to Playa Vista Central Park.  The first, a six-story structure, would rise from a nearly four-acre site at 12126 West Waterfront Drive.  Directly across the street, plans call for a five-story building and associated surface parking on the six-acre property at 12099 West Waterfront Drive.

City records do not currently indicate the exact footprints of the proposed buildings.  However, a January article from the Los Angeles Times reported that Tishman Speyer had entitlements to build up to 400,000 square feet of office space on the two properties