Lincoln Property Company Signs Three Tenants at Premium Culver City Office Building in Latest Examples of “Flight to Quality” Trend

Tenants commit to 140,000 square feet, occupying almost 50% of the new Class A office development

LOS ANGELES--(BUSINESS WIRE)--Lincoln Property Company ("Lincoln"), a global, full-service real estate firm, in partnership with Goldman Sachs Alternatives ("Goldman"), announced the signing of three significant leasing agreements totaling 140,000 square feet at Entrada, a new, state-of-the-art Class A office development located at 6181 Centinela Ave. at the convergence of Culver City and Playa Vista. The signings, which account for almost 50% of the total square footage of the building, are among the largest office leases in Los Angeles in 2024, signaling a resurgence in demand for prime office space.

The new lease agreements are tangible examples of the much talked about “flight to quality” trend as all three tenants are relocating from older vintage office space to this premier development. The new tenants collectively are:

• An undisclosed multinational advertising technology company has committed to a substantial 75,000 square feet.
• Jazwares, a Berkshire Hathaway-owned toy manufacturer, will occupy 51,000 square feet.
• Impact Networking, a leader in managed services, has secured 14,000 square feet.

“These three leases are Los Angeles’ latest and arguably best examples of the flight to quality trend in the office sector,” said Rob Kane, Lincoln’s Senior Executive Vice President and Market Leader for Southern California. “This flight to quality will continue to increase in the second half of the year for the highest caliber buildings. As one of the newest Class A buildings in the market, Entrada is well-positioned to continue to benefit from this increasing demand.”

“We extend a warm welcome to the first three tenants at Entrada. Their tenancy underscores the building's strong market presence and appetite for well-located, modern office space among technology and creative occupiers," said Kent Handleman, Senior Vice President, Lincoln Property Company. “Each of these tenants will benefit from floor-level exterior building signage highly visible along the 405 freeway which is a unique characteristic of Entrada.”

Entrada offers 315,000 square feet of Class A office space featuring 11,000 square feet of ground floor retail, a 14,000 square-foot sky deck, six levels of covered parking, and two recessed 2,000 square-foot balconies per floor. Amenities include an open lounge, fitness and wellness center, full-service restaurant and market. It is proximate to the I-405 Freeway and a 10-minute drive to LAX Airport, among other attractions.

Mr. Handleman and Lincoln’s Douglas Brown, Vice President, facilitated the leasing agreements.

About Lincoln Property Company

Lincoln Property Company (“Lincoln”) is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-used properties, throughout the United States, United Kingdom, and Europe. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes more than 557 million square feet of commercial space. In addition to providing third-party real estate services, Lincoln has completed over 164 million square feet of development since its inception in 1965 and has another $20 billion currently under construction or in the pipeline. For more information, visit: www.lpc.com.