July 27, 2015— The Honest Company, a leading lifestyle brand whose mission is to empower people to live a healthy life, has signed a lease to move its headquarters offices to the top three floors of 12130 Millennium Drive in Playa Vista, California. The top three floors total 83,000 square feet. The company will move from its current location at 2700 Pennsylvania Avenue, Santa Monica early next year.
12130 Millennium Drive is part of a two-building, 300,000 square foot class A office complex known as i|o at Playa Vista, developed by Lincoln Property Company in 2010 and purchased by Clarion Partners in 2014. Clarion and Lincoln recently completed a renovation of the complex, including outdoor terraces, inter-connecting staircases on the exterior of each building and a total remake of the expansive courtyard area outside the building. Other tenants at the complex include Fullscreen, Group M and The Chernin Group, all of whom signed leases earlier this year.
The Honest Company was represented in the transaction by David Toomey and Matthew Miller of Cresa and Marc Bretter of Travers Cresa. According to Toomey, The Honest Company explored opportunities in Santa Monica, Culver City and Playa Vista before focusing on i|o at Playa Vista. “The building is a great fit for The Honest Company as they continue their successful run. It provides enough space to accommodate their rapidly growing headcount, and the 12,000 square foot outdoor deck off the main floor will help to create an amazing indoor/outdoor work environment.”
Los Angeles Mayor Eric Garcetti continued his efforts to support the expansion of high-growth companies in Los Angeles, providing the assistance of his Business Team during the transaction. “I’m proud my business team helped The Honest Company move to Los Angeles, proving our city is the place for growing companies to do business,” said Mayor Eric Garcetti. “L.A. is the perfect home for The Honest Company, an emerging brand committed to style, service, and sustainability, and we welcome the company and its hundreds of employees to the expanding community at Playa Vista.”
“The Honest Company is an ideal fit for i|o at Playa Vista given its brand identity as a forward-thinking, sustainable and savvy company delivering a best-in-class product offering,” added Khalid Rashid, Senior Vice President at Clarion Partners. “Our goal is to foster a workplace environment that supports a healthy, engaged and energized workforce.”
“We’re proud to welcome The Honest Company to the i|o office complex, joining the ever-growing tech community in Playa Vista,” said David Binswanger, Executive Vice President of Lincoln Property Company. “We would like also like to thank Councilman Mike Bonin and his staff for their support during the development of this project.”
Clarion was represented by Rick Buckley of LA Realty Partners and Kent Handleman of Lincoln Property Company. According to Buckley, with the culmination of The Honest Company lease, this marks 200,000 square feet of new leases signed at i|o at Playa Vista. The 300,000 square foot Project, 100% vacant 12-months ago, is now 70% leased. “We have 90,000 square feet remaining at i|o following The Honest Company lease. This represents among the largest currently available blocks of space in Playa Vista and we expect to complete our successful lease up at i|o shortly.”
About Clarion Partners – Clarion Partners, an SEC registered investment adviser and FINRA member firm, has been a leading U.S. real estate investment manager for 33 years. Headquartered in New York, the firm has offices in major markets throughout the U.S., in São Paulo, Brazil and London, England, as well as a presence in Mexico. With more than $35 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors.
About Lincoln Property Company – Lincoln Property Company, founded in 1965 by its chairman Mack Pogue, is a privately-owned real estate firm involved in real estate investment, development, property management and leasing worldwide. Lincoln has offices in all major markets of the U.S. and throughout Europe. Lincoln’s cumulative development efforts have produced over 100 million square feet of commercial space and over 185,000 multifamily residential units. Lincoln Property Company is one of the largest commercial real estate companies in the world. Visit www.lpcsocal.com for more information.
About Cresa – Cresa is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including transaction Management, Project Management, Relocation Planning and Management, Strategic Planning, Workforce and Location Planning, Subleases and Dispositions, Lease Administration, Capital Markets, Sustainability, Supply Chain and Facilities Consulting. With more than 50 offices, Cresa is the largest tenant representation firm in North America. Internationally, Cresa covers more than 125 locations in 35 countries.
For more information, visit www.cresa.com.
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