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MaguirePartners Announces Right to Purchase Land to Develop Majority of The Campus at Playa Vista; Frank Gehry to Design.

Business Editors


MaguirePartners and Playa Vista today announced that MaguirePartners has negotiated the right to purchase land to develop 2.2 million square feet of commercial and studio office space in The Campus at Playa Vista.

In addition, MaguirePartners announced that renowned architect Frank Gehry would lead the award-winning team designing a majority of The Campus at Playa Vista, a 114-acre new media and technology district featured in a scenic campus setting.

"I am delighted with our right to purchase the majority of commercial space at The Campus at Playa Vista. With the design talents of Frank Gehry, an internationally renown and respected architect, this project will certainly be the most exciting, innovative studio office campus in the country," said Robert F. Maguire III, managing partner of MaguirePartners.

The Campus will include 350,000 square feet of sound stages, 550,000 square feet of historic buildings with 11 existing buildings including the famed Spruce Goose Hangar, which will be fully restored, and all clustered around an 8-acre central park. Landscaping will be executed with artistry and environmental sensitivity.

"Our development program has always been planned as a combination of development and land sales to third-party developers," said Peter B. Denniston, president of Playa Vista. "MaguirePartners has consistently expressed its desire to develop commercial space at Playa Vista and we believe they are an outstanding developer with a proven track record. We are confident Rob Maguire and his team will design a product which will be of great interest to companies seeking commercial space in a prime location."

Under the leadership of Gehry and award-winning landscape architect Laurie Olin, MaguirePartners' plans for The Campus at Playa Vista will feature campus-style low-rise office buildings and vast open and active space -- all within a bike ride of the beach. Connected by gardens, courtyards and pathways, The Campus at Playa Vista will offer a range of options that does not now exist in Metropolitan Los Angeles.

A wellness/fitness center will provide spa facilities, indoor/outdoor pools, volleyball, squash and basketball courts, exercise equipment, and an array of classes. Restaurants, retail amenities and other planned services will give businesses good reason to call The Campus home.

Showcasing an unsurpassed technological platform, tenants will enjoy a fiber optic network providing super fast Internet connections and a robust technology network including a satellite farm, community intranet and commercial network speeds. Tenants in The Campus will have a wide variety of housing choices available at Playa Vista all accessible by an internal tram system. Initial occupancy at The Campus is scheduled for summer 2003.

"I'm really very excited about the opportunity to collaborate with Rob Maguire on The Campus at Playa Vista. The site and the unique history of the existing buildings offer an opportunity to create a very different kind of office and studio environment, something we hope will have an international appeal. Our office enjoys a collaborative approach with our clients, and we've always wanted to work with Rob Maguire and his team," said Frank Gehry, Design Principal of Gehry Partners.

Playa Vista is taking shape south of Marina del Rey. Construction is currently moving forward on the project's first phase that includes apartments, homes and commercial office space. Playa Vista is being developed on a 1,087-acre site and has been widely praised as a model of modern urban planning in its incorporation of a broad range of forward-thinking planning and environmental initiatives.

Phase One is fully entitled and will provide up to 3,246 new residences in an array of housing types, plus office and commercial space, along with a restored wetland and wildlife preserve.

Gehry established his firm in 1962. Since that time, Gehry Partners has grown into a full service firm with broad international experience in museum, theater, performance, institutional, commercial and residential projects.

Gehry and his associates James Glymph and Randy Jefferson work as a team in the development of all projects undertaken by the firm, with Gehry leading the design effort and Glymph and Jefferson complementing his work with their extensive experience in project management and in the development of technical systems.

Recent projects include the Guggenheim Museum in Bilbao, Spain; the Walt Disney Concert Hall in Los Angeles; the DG Bank Building in Berlin; and Der Neue Zollhof, a three-building office park in Dusseldorf, Germany.

MaguirePartners has developed more than 30 million square feet nationally and currently owns and manages 12.6 million square feet in Southern California and Texas comprised of 7.4 million square feet, two hotels with 550 rooms and 448,000 square feet and 16 parking garages totaling 4.6 million square feet and 16,000 parking spaces.

In its more than 30 years of operation, MaguirePartners has developed some of the most significant projects in Los Angeles County. These include such downtown Los Angeles landmarks such as Library Tower, Gas Company Tower, Wells Fargo Tower and KMPG Tower.

MaguirePartners owns and developed Pasadena's Plaza Las Fuentes, the Glendale Center, Solana, a 900-acre, 2 million square foot corporate and technology center near the Dallas-Fort Worth airport. MaguirePartners also developed Commerce Square, a 2 million square foot twin-tower complex in Philadelphia.

MaguirePartners has one of the largest, most attractive development pipelines in the country with more than 8 million square feet of entitled property in such highly constrained markets as Santa Monica, Glendale and Pasadena, as well as Playa Vista on Los Angeles' Westside.
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Publication:Business Wire
Date:Jul 10, 2001
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