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HUGHES NAMES CUSHMAN & WAKEFIELD TO MARKET CORPORATE HEADQUARTERS

 HUGHES NAMES CUSHMAN & WAKEFIELD TO MARKET CORPORATE HEADQUARTERS
 LOS ANGELES, Oct. 20 /PRNewswire/ -- Hughes Aircraft Co. today named the commercial real estate firm of Cushman & Wakefield Inc. to sublease its 550,000-square-foot West Los Angeles corporate headquarters building.
 A unit of GM Hughes Electronics, Hughes intends to relocate its corporate headquarters to an unannounced existing company facility in the Los Angeles area.
 Hughes, a leading supplier of defense electronics, has occupied the building for nearly seven years. During that time, a general downturn in defense spending has forced industry contractors to curtail operations and reduce size.
 On June 30, Hughes announced a restructuring plan designed to increase the company's competitiveness and lay the groundwork for future growth. In addition to eliminating excess facilities, the plan called for a reduction in workforce, including downsizing the corporate headquarters staff to less than 500 people. With a capacity of 1,250 employees, the current headquarters building is no longer warranted because of the reduction in staff.
 Cushman & Wakefield will mount a domestic and international marketing effort to sublease the space at 7200 Hughes Terrace to compatible users, consistent with the building's conditional use permit.
 Designed by the Los Angeles office of Skidmore, Owings & Merrill, the building was completed in 1985 and has received critical acclaim in architectural and design competitions.
 Among the structure's amenities are a 130-seat auditorium, a full-service cafeteria, a fitness center, medical offices and a 1,150-car parking garage beneath the building.
 -0- 10/20/92
 /CONTACT: Richard H. Dore of Hughes Aircraft, 310-568-6324; or Stanford M. Horn of Cushman & Wakefield, 415-773-3592, for Hughes Aircraft/ CO: Hughes Aircraft Co.; Cushman & Wakefield Inc. ST: California IN: ARO SU:


GT-TM -- SF001 -- 2355 10/20/92 13:31 EDT
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Publication:PR Newswire
Date:Oct 20, 1992
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