Beachbody Expands Santa Monica Corporate Headquarters
- May 19, 2016
Los Angeles—Beachbody has signed a 69,000-square-foot lease with Jamestown LP to take over Lantana Center, the former IMAX building in Santa Monica, Calif. When added to its current office next door, the company now possesses 200,000 square feet for its corporate headquarters.
Located at 3003 Exposition Blvd., Beachbody’s new offices will be used mostly to house the company’s rapidly expanding technology team, which has been critical in supporting its 24 percent compound annual revenue growth since moving to the Santa Monica campus eight years ago.
“We will create a state-of-the-art facility for the team to not only support the critical work that our tech team does, but also to attract the world-class talent we need to further support Beachbody’s amazing growth,” Jon Congdon, Beachbody co-founder, president & CMO, said in a prepared release. “This is going to be a really fun space that sparks creativity and helps our team have a great time at work, while helping Beachbody continue its evolution into a tech powerhouse.”
The company, known for infomercials that sell its home fitness DVDs Insanity and P90X, originally set up its headquarters in Santa Monica in 2008 and currently has more than 600 employees at the location.
Once the new offices are completed, Beachbody will be included in the top five in Santa Monica employer square footage, and once the building becomes fully occupied, it will be one of the top five private employers in Santa Monica.
According to Savills Studley’s 2016 Q1 Los Angeles Office Sector Report, pricing in Santa Monica and surrounding areas are increasing as overall asking rents continue to trend upwards.
“Newly constructed and renovated creative office spaces have enjoyed strong demand from both tenants and investors,” Mike Catalano, Savills Studley executive vice president, said in the report. “Developers are scrambling to find buildings that are suitable conversion candidates.”
JLL Los Angeles’ team members Tom Turley, Jordan Kissel and Blake Searles represented Beachbody in the lease. The landlord was represented by Jeff Pion, Blake Mirkin, Michelle Esquivel and Richard Ratner at CBRE.