EL SEGUNDO, Calif., January 15, 2021– Hackman Capital Partners announced today the execution of a 12-year lease with Beyond Meat, Inc. (NASDQ: BYND) for approximately 280,000 square feet of space at 888 N. Douglas Street in El Segundo, California, a one-of-kind expansive campus environment in Los Angeles
The building, which will comprise a total of approximately 390,000 square feet, is currently under development with anticipated completion in spring 2021. Beyond Meat plans on opening its new state-of-the-art global headquarters in phases beginning in the fall of this year, which, upon full delivery of the premises, will bring the building to near full occupancy with approximately 40,000 square feet remaining available for lease.
“Hackman Capital has been an early pioneer of converting urban properties to creative office space, and the transformation of a former aircraft manufacturing facility at 888 Douglas represents the vision and quality of our hard work in this space. We are incredibly proud to welcome one of the world’s largest and most technologically advanced plant-based research facilities to the property,” said Michael Hackman, Founder and CEO of Hackman Capital Partners.
He added, “El Segundo has earned a reputation as one of the region’s best places to live and work and has also attracted many of the world’s most innovative companies, including Beyond Meat, which we are so delighted to have make 888 Douglas its home.”
Jeff Pion, Vice Chairman of CBRE who represented Hackman Capital in the transaction, added, “This substantial lease speaks to the continued demand for high-end creative spaces to help leading companies hire and retain top talent and boost creativity and competitiveness. This is true despite the challenges 2020 and beyond has presented. Visionary projects such as 888 Douglas continue to be in high demand in the thriving and evolving El Segundo submarket.”
Barbara Voss, Deputy City Manager of the City of El Segundo Deputy City Manager said, “El Segundo continues to be a hub for innovation with a high concentration of Fortune 500 companies, tech startups, biotech R&D facilities, and world-class talent. Beyond Meat’s expansion into its new, state-of-the-art campus is emblematic of the City’s unique commercial real estate offerings for startups and global corporations alike. El Segundo is truly unique in LA – it offers a business-friendly environment and a diverse mix of companies while maintaining a small town vibe. Beyond Meat is one of several successful companies that started in El Segundo’s entrepreneurial ecosystem and we’re thrilled to see them grow and expand in the city Where Big Ideas Take Off.”
The construction of Beyond Meat’s global headquarters will take place in three phases and will include increased pilot space to support multiple product lines while enabling space for future research personnel growth as much as four times current levels. Additionally, the campus will feature future-forward research incubators that will enable the development of new technologies and more innovative products utilizing artificial intelligence and machine learning.
The property’s expansive campus, which is situated minutes from LAX and walking distance from the METRO C (Green) Line and soon-to-be operating Crenshaw/LAX line, presents a unique offering in the market. The facility includes a fitness center, cafeteria, expansive outdoor spaces and interior living walls to promote healthy air quality. The space will be designed to be LEED and Fitwel Certified.
Hackman Capital Partners was represented by CBRE and Newmark, and Beyond Meat was represented by JLL. Project management for Hackman Capital Partners is led by Cumming, architecture and design work is being led by Gensler, and the general contractor is KPRS