The global apparel corporation identified by the likes of LeBron James and Cristiano Ronaldo is taking more space at a Silicon Beach office complex in Los Angeles, Commercial Observer has learned.
Nike is expanding its lease by 93,166 square feet to take the entire WE3 building of the Water’s Edge campus in Playa Vista, multiple sources said. This brings Nike’s space to about 183,000 square feet for 100 percent of the four-story office.
SEE ALSO: WeWork to Spare Dumbo Location from Closing
The lease expands another name-brand company’s footprint in a small but significant submarket on the Westside that is also home to Google, Facebook and Apple.
Rockwood Capital, owner of the Water’s Edge campus, and CBRE (CBRE), which has the listing, both declined to comment. Nike representatives were not immediately available to comment.
Online listings for WE3 show asking rent for the two new floors added to the lease at $4.75 per square foot, which pencils out to $5.3 million per year just for the expansion. The property features a soccer field, and the full Water’s Edge campus includes an Olympic-sized swimming pool, a basketball court and a gym operated by LA Fitness.
The 6.5-acre creative complex is located at 5533 Waters Edge Way. Property records show Rockwood acquired the site for $132 million in December 2014. The $80 million WE3 development broke ground in April 2018, according to a report from Urbanize at the time.
Gregory Cornfield can be reached at gcornfield@commercialobserver.com.
