Tishman Speyer Lands Major LA Office Lease

April 8, 2025

Office Brokerage Los Angeles News More West

The tenant’s relocation to the new space will almost double its footprint.

Aerial view of The Collective, a five-building office campus in Playa Vista, Calif. — The creative office campus The Collective came online in 2015 and comprises five buildings. *Image by Lawrence Anderson, courtesy of Tishman Speyer*

Spin Master has signed a 132,300-square-foot lease at The Collective, a 204,724-square-foot, five-building creative office campus in the West Los Angeles neighborhood of Playa Vista. This deal marks the largest leasing agreement in the area in the past two years. Tishman Speyer owns the property.

JLL, Centurion and Madison Partners arranged the transaction on behalf of the tenant. Tishman Speyer had in-house representation.

The children entertainment company will move to its new location in November next year and will occupy three buildings within the campus. Yahoo previously leased the space, according to CommercialEdge. Spin Master currently occupies 70,000 square feet at 5880 Jefferson Blvd., an office complex 4 miles from The Collective.

Located at 11975, 11985 & 11995 W. Bluff Creek Drive, the firm’s future location is 4 miles from Los Angeles International Airport. Downtown Los Angeles is 16 miles away.

Tishman Speyer completed The Collective in 2015 using funds from a $40 million loan originated by Wells Fargo, CommercialEdge information shows. The two-story campus features private garden patios, public gardens with outdoor seating areas, as well as integrated outdoor spaces. The buildings also have open floorplans and five passenger elevators.

Centurion’s CEO Tony Morales—who recently moved to CBRE—and JLL Executive Vice President Maureen Hawley, along with partner Chris DuMont at Madison Partners, worked on behalf of the tenant. Tishman Speyer Managing Director Allen Palmer represented the landlord.

Los Angeles’ office vacancy rate remains steady

The Los Angeles office vacancy rate as of February clocked in at 16.3 percent, 30 basis points higher year-over-year, but still considerably below the 19.7 percent national average, according to the latest CommercialEdge office report. The metro’s average listing rate during the same month was $42.6, marking a 2.0 percent increase from February 2024.

In February, Mangan Inc. signed a 37,000-square-foot lease at Kilroy Realty Corp.’s Aero Long Beach, a 957,706-square-foot campus in Long Beach, Calif. The move-in is scheduled for November this year.