PLAYA VISTA, CA – Advertising agency Kastner & Partners will relocate from Santa Monica to Playa Vista after signing a 10-year lease for approximately 15,000 square feet at 5340 Alla Road in a transaction estimated at $6.5 million, announced Industry Partners, which represented both the landlord and tenant.
Kastner & Partners joins other notable ad agencies such as Deutsch, TBWA Chiat Day, OMD Worldwide, KDA Group, 72 and Sunny and TVGla that have relocated to what is being referred to as “ad agency row,” the corridor along the two-mile stretch of West Jefferson Boulevard between Lincoln Blvd and the 405 Freeway, according to Industry Partners’ Andrew Jennison and Travis Landrum.
“Ad agencies require space that is collaborative, organic and flexible, which is difficult to find in traditional office buildings,” said Landrum. “Since advertising can be an ebb-and-flow business, the space must be able to easily accommodate changes in staffing that occur as projects come and go. Most of that space is found in Playa Vista.”
Kastner & Partners was founded in 1985 and immediately made a name for itself for launching and creating the Red Bull brand. The privately owned agency opened its Santa Monica office in 2001 in what was one of the early property conversions of creative office space on the Westside. Kastner, which also has offices in Frankfurt, London, Madrid, Milan and St. Louis, is expected to take occupancy of its new L.A. office first quarter 2014.
The building features full height glass sliding door systems, operable windows, private outdoor patio space for tenants, and more than 600 square feet of new skylights. Common area improvements include outdoor conference and event spaces, and lushly landscaped promenades and courtyards.
Other tenants at 5340 Alla Road include Visionaire Group, VEVO, and DTrain.
Jennison and Landrum represented the tenant while Jim Jacobsen and Scott Rigsby of Industry Partners represented the landlord PacShore Partners.
About Industry Partners
Industry Partners (www.industrypartners.com) is an entrepreneurial real estate services firm specializing in the representation of landlords, tenants and developers with a particular focus on creative work environments and adaptive reuse project on Los Angeles’ Westside. The firm offers real estate brokerage, investment advisory, development and construction management services.