by Jodi Summersla-fi-silicon-valley-south-20150118-pictures-001

Silicon Beach with a view…that’s what they call Playa Vista. It used to be that the incorporated city of Santa Monica was the gem in the crown – great location, better services, name recognition…rents about $4/sf, but since the rise of Silicon Beach, such is not the case. Culver City is now on par with Santa Monica ($4/sf). Venice is entirely out of control with lease rates beyond $5/sf, bolstered in part by angel investors.

la-fi-silicon-valley-south-20150118-pictures-004Playa Vista started out as a budget-friendly alternative to the Santa Monica market, but no more. State of the art, Playa Vista is highly desirable —and it is still growing. As Google moves into the Hercules campus where Howard Hughes’ Spruce Goose flying ship was built, demand in the Playa Vista market continues to grow for tenants in all size ranges. From titans like Microsoft, Verizon, TOMS, Google, Yahoo and YouTube Space LA to creative powerhouses like 72andSunny and USC’s Institute of Creative Technologies, Playa Vista has become the Westside address of choice.

Los Angeles Mayor Eric Garcetti heavily wooed Yahoo to move its Santa Monica operations to Playa Vista. He has been aggressively pushing for the city to become a tech-entertainment powerhouse and has been enticing Tech LA Mayor Eric Garcetticompanies over the Santa Monica border with attractive perks.

The plan to lure Yahoo began last year, when word got out that Yahoo was willing to leave Santa Monica in favor of a bigger office complex. Mayo Garcetti sent a letter to Yahoo Chief Executive Marissa Mayer offering a “menu of incentives and resources,” including a three-year business tax exemption and “white glove service” to ensure that the build-out of the campus would proceed quickly and that the company’s dealings with the city would be fast-tracked.

“The consolidation of your employees into one singular campus in the city would help elevate L.A. as [a] tech leader, ensuring that we’re able to retain quality engineers and attract and grow local funding sources,” Garcetti playa vista yahoo buildingwrote, according to the Los Angeles Times. “Personally, I view this move as paramount to our continued success.”

Yahoo signed a long-term lease for about 130,000 square feet at the Collective Campus in Playa Vista. The move will bring at least 400 jobs from Yahoo’s current location, with space to accommodate growth.

Internet companies generally set aside 200 square feet per employee, so Yahoo’s Playa Vista presence could expand to 650 employees.

Playa Jefferson“L.A. city will get its fair share,” confirms Mayor Garcetti. “That absolutely is important to me.”

It’s working. The Los Angeles County Economic Development Corp. recently released a report showing that the area has more high-tech jobs (368,600) than Boston-Cambridge, Santa Clara County and New York City. The direct high-tech workforce generated $32 billion in wages in 2013, accounting for 16.8% of all wages paid in L.A. County, the report said.

Today’s vision of Playa Vista would touch the spirit of former landowner Howard Hughes, and his concept for the neighborhood. Hughes transformed this area into a breeding ground for aeronautic innovation and today that playa vista back in the spruce goose daysinnovation is in technology, media and other creative fields. Today it really is a utopian campus designed to inspire. Spotted between the buildings, innovative rejuvenation offers a variety of amenities to appeal to the senses, including berm gardens, water features, walking paths, soccer, sand volleyball, basketball court, a kids’ playground and iconic bandshell for outdoor concerts, movies and other events. And for more out of doors, the adjacent parkland adds breathing room and a campus-like atmosphere to this vibrant creative office destination.

 

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http://www.globest.com/sites/kelsimareeborland/2016/12/21/playa-vista-hits-equilibrium-with-santa-monica/?kw=Playa%20Vista%20Hits%20Equilibrium%20with%20Santa%20Monica&et=editorial&bu=REM&cn=20161221&src=EMC-Email&pt=California&slreturn=20161121150803

https://therealdeal.com/la/2016/06/03/done-deal-google-has-leased-the-massive-spruce-goose-hangar-in-playa-vista/

http://playavista.com/the-campus/

http://www.latimes.com/business/la-fi-silicon-valley-south-20150118-story.html

https://www.shuup.com/media/fp/t/fp/q/qA/qAr/screen_shot_2017-01-16_at_62319_pm.png__1000x0_q85_subsampling-2.png

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About Jodi Summers

Jodi Summers
SoCal Investment Real Estate Group
Sotheby’s International Realty
jodi@jodisummers.com

Sotheby’s International Realty’s legacy dates back to 1744. Respected as one of the world’s oldest and largest fine art auctioneers, Sotheby’s has a longstanding tradition of bringing together buyers and sellers of fine property. Today, Sotheby’s International Realty boasts nearly 13,000 sales associates, located in more than 660 offices in 49 countries and territories. Broker Jodi Summers is the founder of the SoCal Investment Real Estate Group, a top producing team with Sotheby’s International Realty in the Los Angeles area.

With more than $140,000,000 in listed inventory, Jodi and the SoCal Investment Real Estate Group know finance, rules, regulations, procedures and methods. We are accurate, knowledgeable, timely and aware of how government shapes the cities of Southern California, including Santa Monica, Venice, Culver City, West Hollywood, Beverly Hills and Los Angeles.

A New York native, Jodi grew up working in the family business – marketing, Madison Avenue style. Childhood math quiz questions calculated demographic and psychographic percentages or analyzed the allocation of adverting dollars. Word games were for devising slogans.

“My marketing and communication skills have proven to be a true gift when it comes to promoting real estate,” observes Jodi. “And I am consistently able to get an exceptionally high price per square foot for my sellers.”

Discipline (Jodi holds a Black Belt in Tae Kwon Do), organization, motivation, excellent communication skills and knowing & satisfying the needs of her clients have been her essentials for running a successful business. A passion for investment real estate explains her emphasis in asset-yielding properties.

The City of Santa Monica chose Jodi to be part of the prestigious 9-member Civic Working Group to analyze and offer feedback on the future of the 10.5-acre Santa Monica Civic Auditorium site. Additionally, Jodi is a member of the National Association of Realtors, Beverly Hills + Greater West Side Association of Realtors, Action Apartment Association of Westside income property owners, the Santa Monica Conservancy historic preservation society, the Friends of Sunset Park community group, the Real Estate Investors Club L.A., the American Solar Energy Society, Sierra Club, California Parks Association and the Culver City Rock & Mineral Club. She is currently the Communications Chair for the Ocean Park Association in Santa Monica, and a partner in Save the Civic – a community group involved with the City in the adaptive reuse of the Santa Monica Civic Auditorium and adjacent area.

An honors graduate from the Walter Cronkite School of Journalism at Arizona State University, Jodi moved to California in the mid-’90s to achieve her goal of living by the beach with a hibiscus bush in her yard.

She has thrived as an entrepreneur in the entertainment, media and marketing industries. She has three books in publication with Allworth Press – The Interactive Music Handbook, Making and Marketing Music and Moving Up In the Music Business. Making and Marketing Music is in second edition. Check out her work on Amazon.com.

Find out more about Jodi Summers through her social networks –
Linked In: http://www.linkedin.com/in/jodisummershere
Facebook: http://www.facebook.com/profile.php?id=1296490898
Flickr: http://www.flickr.com/photos/jodisummers/collections/
Twitter: http://twitter.com/jodisummers
About.Me: http://about.me/SoCalInvestmentRealEstateGroup
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Our websites + blogs + brands include:
www.SoCalInvestmentRealEstate.com
www.SantaMonicaLandmarks.com
www.SoCalIndustrialRealEstateBlog.com
www.SoCalOfficeRealEstateBlog.com
www.SoCalMultiUnitRealEstateBlog.com
www.SoCalGreenRealEstateBlog.com
www.SantaMonicaPropertyBlog.com

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Fresh Real Estate, Local, Uncategorized, WOW