El Segundo skin care company Murad Inc. announced Tuesday that it would move its global headquarters to a larger space within city limits.
The company has signed a 12-year lease with landlord Continental Development Corp. for 45,000 square feet at 2121 Park Place, mere blocks from its current headquarters site on Rosecrans Avenue, in El Segundo. Murad plans to invest $35 million to improve the new corporate offices, which it said will accommodate the company’s growth.
Murad was founded in 1989 by Dr. Howard Murad, who is credited with creating “Dr.-branded” treatments – science-based products backed by doctors. He found early success using infomercials to sell skin products such as those with alpha hydroxyl acids that peel off the outer layer of skin, now a commonly accepted treatment in the cosmetics industry.
Murad was represented by Jon Zuckerman and David Kluth of Newmark Grubb Knight Frank. Continental was represented by CBRE Group inc.