Hello Kitty Relocates To Creative El Segundo Office
El Segundo continues to heat up as a creative office market, as Hello Kitty (aka Sanrio Inc) has relocated in an expansion from Torrance to El Segundo. Their new office, 2101 El Segundo Blvd, has been a major success as they renovated the dated building with creative features that today's creative tenant demands. The building has polished concrete floors, exposed ceilings, plenty of natural light, and an impressive indoor/outdoor lobby area with wifi, outdoor seating, a dog park, and a Peets coffee bar. There are many other buildings following suit to provide more creative supply to the market.
As more strong tenants continue to plant their flag in El Segundo, rents will continue to rise, but the legitimacy of the market has arrived and many LA or South Bay tenants need to at least consider it.
Rentv 3/17/15 http://www.rentv.com/content/southerncalifornia/losangeles/news/19590
Sanrio Inc is the latest company to scoop up creative office space in El Segundo, as the Japanese firm has leased 28.6k sf at 2101 El Segundo Blvd for its Hello Kitty® brand. Terms of the deal were not disclosed.
Sanrio is relocating from Torrance in a move that will more than double the size of its offices and make them the lead tenant at their new building. The company is expected to take occupancy this summer. Sanrio’s Hello Kitty is one of the most recognizable brands in the world.
Owned by Bixby Land, 2101 El Segundo Blvd is a five-story, 114k sf building that company redeveloped at a cost of $25 mil in 2014. Bixby redeveloped the property to meet the growing demand for highly amenitized, creative space in the South Bay and throughout California. Polished concrete floors and exposed ceilings convey a gritty yet refined atmosphere that is accented with natural materials. 2101 features a stunning lobby lounge area that opens to an outdoor deck where tenants can relax and recharge. Peet’s Coffee will soon operate the lobby coffee bar, and Specialty’s Café & Bakery is preparing to occupy ground floor space this spring in what will be the first South Bay location for the restaurant chain. Sanrio Inc was represented by Tom Cherry and Nick Niemann of JLL. Bixby was repped by Bill Bloodgood and Casey Benson of CBRE, along with Tony Ranger and Joe King of Madison Partners.
Bixby is in lease negotiations for another 13k sf of space that will bring the building to 89% occupancy. Other tenants in the building include Exponential Interactive, Cove Street Capital and AMA Consulting Engineers. In Northern California, Bixby recently announced a full-building lease to technology giant ASML for THE Campus, a three-building, 252k sf project located in San Jose. THE Campus is now fully leased, with Verizon in the other two buildings.
Bixby also has six other projects in various stages of development, including a seven-building office campus in Santa Clara, three projects in Orange County and four buildings in San Diego.
*Shared by Jeff Vertun