New Office Complex Rising in Playa Vista

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Work has begun on the first phase of a $1.2-billion office complex in the Playa Vista development south of Marina del Rey as the popular Westside office market remains strong in the face of the nation’s faltering economy, the L.A. Times reports.


A major tenant for the complex, Belkin International Inc., was announced Thursday by the developers, Tishman Speyer and Walton Street Capital. When completed at the end of next year, the new buildings will be headquarters for technology company Belkin.


Belkin will occupy 150,000 square feet, almost half of the space in the four-building first phase of the office campus, after it consolidates other Los Angeles-area offices.


The price of the lease was not disclosed, but a real estate expert who knows about the deal but asked not to be identified because negotiations were confidential valued it at more than $100 million.


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