Google to Build a Very Big Campus in Los Angeles

05:31 01/11/2019

It was just in December that Google had announced a $1 billion investment into a New York City campus and it looks like Los Angeles may be getting one too. Wall Street learned this week that Google has leased the current site of a shopping mall in West Los Angeles so that it can turn it into a new campus for the company. A press release has said that the 584,000 square-foot office campus is scheduled to be completed in 2022, from Hudson Pacific Properties, Inc. (NYSE: HPP) and Macerich (NYSE: MAC). The 14-year lease would then begin after the campus is completed. As written in the press release, "One Westside, with construction expected to commence later this year, will be a first-of-its-kind conversion from landmark shopping mall to Class A creative office space. Designed by architecture firm Gensler, the project repurposes high ceilings and a multi-level atrium and skylight, allowing for natural light-filled interiors. Up to 150,000-square-foot floorplates provide hyper-flexible open layouts, while 45,000 square feet of expansive exterior terraces and patios with 15-foot wide folding glass walls create a seamless indoor-outdoor environment. The property also features a rooftop amenity space with a garden deck and direct bridge access to the Landmark Theatre, Westside Tavern restaurant and in-line retail shops." Victor Coleman, Chairman and CEO of Hudson Pacific Properties, said, “We are thrilled to expand our relationship with Google, and are proud to support this significant phase of their growth. Google’s selection of One Westside demonstrates the strength of the Los Angeles tech and media industries, and exemplifies the type of creative office space that is in demand from large tech and media tenants. One Westside also demonstrates Hudson Pacific’s ability to identify and swiftly execute on large-scale and complex investment and adaptive-reuse opportunities to meet that growing demand.” Tom O’Hern, CEO and Director of Macerich, said, “Macerich properties are known for the strength of their markets and unparalleled locations. The fact that Google is taking all available creative office space in this joint project with Hudson Pacific underscores the power of our well-placed real estate.” RG Kahoe, Google’s Real Estate Project Executive for the Southwest, stated, “Google’s been a proud member of the Los Angeles community since 2003. We’re excited to continue investing in the community as part of Hudson Pacific and Macerich’s adaptive reuse project at One Westside.”0

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