California Pizza Kitchen moving headquarters to Playa Vista
Restaurant chain California Pizza Kitchen will move its headquarters to Playa Vista after signing a sublease with Fox Interactive Media.
CPK company officials and staff will relocate this summer from their longtime headquarters on Century Boulevard near Los Angeles International Airport 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 square feet on the fifth floor, which has a large private balcony with views of Marina del Rey, Toomey said.
Financial terms of the nine-year deal with Fox were not released, but landlord JPMorgan Chase & Co. is asking for $3.25 per square foot per month for similar 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 company MySpace was among the digital companies Fox Interactive intended to house at Playa Vista, but MySpace lost ground to competitor Facebook and was eventually sold by Fox.
CPK 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 California Pizza Kitchen restaurants as well as in stadiums and the frozen food aisles of grocery stores.
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