At a glance
- Lincoln Property Company and Strategic Value Partners' two-building creative project at 12121 and 12181 Bluff Creek Dr. is a 500,000-square-foot Class A campus on Los Angeles' Westside.
- Tenants signed on before the ribbon-cutting.
- The completion hands private operators a concrete result in an office sector still defined by distress.
The redevelopment of The Bluffs at Playa Vista is complete. Lincoln Property Company and Strategic Value Partners' two-building creative project at 12121 and 12181 Bluff Creek Dr. is a 500,000-square-foot Class A campus on Los Angeles' Westside. Its flexible, dual-core floor plates run as large as 50,000 square feet.
Tenants signed on before the ribbon-cutting. The leases total more than 57,000 square feet. The Honest Company is relocating its headquarters into 38,240 square feet of that space, and Thrive Causemetics has taken 19,076 square feet for its office. Rob Kane, Lincoln's senior executive vice president, called the campus one of the largest contiguous Class A offerings in West Los Angeles, a repositioning pitched around hospitality-inspired shared spaces and indoor-outdoor connectivity.
A test for office repositioning capital
The completion hands private operators a concrete result in an office sector still defined by distress. No pricing or capital details have been disclosed, so the economics remain unconfirmed. The pre-leased square footage suggests demand for well-located creative office in Playa Vista is still clearing, even as L.A. County office sales keep sliding. The Bluffs sits in a live-work-play community that has become a hub for consumer and tech brands. Lenders and buyers weighing office repositioning bets will compare this leasing record against the 8.89% office CMBS delinquency rate that hung over the summer.
Reported by the Deals desk from Connect CRE. Published . Corrections