California Pizza Kitchen is Officially Moving their Headquarters to Playa Vista
Restaurant chain California Pizza Kitchen will be moving its headquarters to Playa Vista after signing a new sublease with Fox Interactive Media.
California Pizza Kitchen company officials and staff will relocate this summer from their longtime headquarters on Century Boulevard near LAX to the top floor of 12181 Bluff Creek Drive, said real estate broker Dave Toomey of Cresa Los Angeles.
The pizza chain will occupy 33,000 sq. ft. on the 5th floor, which has a large private balcony with ocean views of Marina del Rey and Playa del Rey and Ballona Wetlands” Toomey said.
Financial terms of the nine-year deal with Fox have not been released, but landlord JPMorgan Chase & Co. is asking for $3.25 per square foot per month for a similar type of space in another building in the office complex called “The Bluffs at Playa Vista”.
In a $350-million deal, Fox Interactive agreed to rent 430,000 square feet in the Bluffs before the complex was completed in 2009, but never fully moved in. That year, Fox Interactive faced financial difficulties and began staff cutbacks.
Social media giant, MySpace, was among the companies Fox Interactive intended to house at Playa Vista, but as we all know MySpace lost ground to competitor Facebook and was eventually sold by Fox.
California Pizza Kitchen was acquired by San Francisco private equity firm Golden Gate Capital last July for $470 million. The casual dining chain sells its food at more than 250 CPK restaurants as well as in stadiums and the frozen food aisles of grocery stores across the country.
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