Savills Studley Represents Digital Domain in 51,000-Square-Foot HQ Lease Extension in Playa Vista
Los Angeles, CA (February 9, 2016)  

Savills Studley represented Digital Domain in a long-term lease extension of its corporate headquarters in Playa Vista, California. The entertainment and media company occupies the entire 51,320-square-foot building at 12641 Beatrice Street. Digital Domain, one of the largest and most influential visual effects studios in the world, has been located here since 2007.

Initially constructed as a concrete two-story tilt-up, the property was converted from a warehouse to creative space and includes a state-of-the-art performance capture studio.

Josh Gorin, senior vice president and branch manager, and Marcus Arredondo, associate director, with global tenant advisory firm Savills Studley represented Digital Domain in the transaction.

“Our client explored a variety of occupancy alternatives, but ultimately chose to remain in its current location,” said Gorin. “The building continues to support the company’s innovative visual work as well as facilitate its expansion into new realms of media.”

Playa Vista has become one of the most desirable submarkets in West Los Angeles and has seen a significant influx of tech and media companies in the last three years, including Yahoo, Omnicom, Google, Verizon, IMAX, WPP and Fullscreen. While rents in Playa Vista average between $3.50 and $4.50 per square foot per month, the costs are still 20% to 25% less than in Santa Monica and some other neighboring submarkets.

Digital Domain also operates a facility in Vancouver.

About Savills Studley

Savills Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, the firm pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, supported by high quality market research and in-depth analysis, Savills Studley provides strategic real estate solutions to organizations across all industries. The firm’s comprehensive commercial real estate platform includes brokerage, project management, capital markets, consulting and corporate services. With 29 offices in the U.S. and Canada, and a heritage of innovation, Savills Studley is well known for tenacious client advocacy and exceptional service.

The firm is part of London-headquartered Savills plc, the premier global real estate service provider with over 30,000 professionals and over 700 locations around the world. Savills plc is listed on the London Stock Exchange (SVS.L).

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