DirecTV Inc. Tuesday evening closed on a 630,000 square foot lease that will eventually expand to 720,000 square feet at El Segundo’s Kilroy Airport Center. The 15-year lease, valued at roughly $400 million, is the largest in the state in the last decade.
As first reported in the Business Journal’s Oct. 31 edition, the satellite television company is expanding its corporate headquarters in the three-building complex at 2240 E. Imperial Highway, where it already occupies about 333,000 square feet in two of the buildings. The company will occupy 630,000 square feet in the complex in the second half of next year, with plans to increase up to 720,000 square feet over the next five years as other companies in the complex vacate their space and renovations are completed on the third building.
The new lease will provide space for consolidation of other DirecTV offices as well as room for growth.
Jones Lang LaSalle’s Managing Directors Gary Horwitz in El Segundo and Alan Aufhammer and Tony Morales in downtown Los Angeles represented DirecTV. Kilroy was represented in-house by Jeff Hawken and Allen Matkins Leck Gamble Mallory & Natsis LLP attorney Delmar Nehrenberg.
“DirecTV is a relatively young company that’s thriving and growing. It’s an opportunity to usher in the new era and build a corporate culture,” said Horwitz. “The El Segundo market generally offers, from a transaction perspective, very favorable lease economics compared to greater Los Angeles.”
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