Playa Vista's newly constructed, state-of-the-art & LEED Certified buildings, as well as their roughly 50% vacancy, have eaten up another large, experienced company, adding CPK to the mix with companies like Facebook and Belkin. California Pizza Kitchen will be moving its headquarters to Playa Vista after signing a sublease with Fox Interactive Media. CPK will relocate this summer from their longtime headquarters on Century Boulevard near LAX to the top floor of 12181 Bluff Creek Drive.
The pizza chain will occupy 33,000 square feet on the fifth floor, which has a large private balcony with views of Marina del Rey.
Financial terms of the nine-year deal with Fox were not released, but landlord JPMorgan Chase & Co. is asking for $3.25 per square foot per month for similar space in another building in the office complex called the Bluffs at Playa Vista.
In a $350-million deal, Fox Interactive agreed to rent 430,000 square feet in the Bluffs before the complex was completed in 2009, but never fully moved in. That year, Fox Interactive faced financial difficulties and began staff cutbacks.
MySpace was among the digital companies Fox Interactive intended to house at Playa Vista, but MySpace lost ground to competitor Facebook and was eventually sold by Fox.
Shared by Ted Simpson, Scott Steuber & Jeff Vertun