Playboy Enterprises Inc. plans to relocate its headquarters to Westwood from Beverly Hills. It’s the most recent move by executives who are reshaping business after the death of Playboy creator Hugh Hefner in 2015.
The well-known adult home entertainment and way of life company has struck an offer to sublease an approximated 40,000 square feet of office space on the 21st and 22nd floors at Douglas Emmett Inc.’s 10960 Wilshire Blvd. workplace tower, according to three sources educated of the deal but unapproved to speak on the problem.
The business’s name is listed on the front of the structure dealing with Wilshire with the names of other prominent occupants now. The building lies just more than two blocks from where Hefner is buried in Westwood Town Boneyard.
The office was set up for sublease by marketing company Wasserman previously this year at a rate of $3.85 per square foot monthly up until July 2020, according to a personal listing memo for the space. Details of Playboy’s lease are not known.
Wasserman vacated that building to broaden to 61,000 square feet at Tishman Speyer’s 10900 Wilshire Blvd. in 2015. President Casey Wasserman is also chairman of the LA2024 Olympic project.
Playboy currently inhabits about 52,000 square feet at Rockefeller Group’s 9346 Civic Center Dr., called UTA Plaza, in Beverly Hills.
The website is the two-building head office of entertainment and literary representation company United Skill Agency. That group, which represents stars varying from Amy Schumer to Frances McDormand, inhabits simply under 50,000 square feet in the structure it presently shares with Playboy. It occupies most of the sibling structure at 9336 Civic Center for an overall footprint of 120,000 square feet at the place.
Playboy’s move comes at an important time in the business’s history. Previously this year, Michigan-based private equity company Rizvi Traverse took control of business and revealed strategies to transition it from an entertainment business to a brand-management company. It is likewise weighing closing its print magazine.
Ben Kohn, Playboy president and a Rizvi managing partner, informed the Wall Street Journal in January that they wish to focus on the bigger ‘World of Playboy,’ adding that the business would spend 2018 transitioning from a media company to a brand name management company.
Playboy moved into its Beverly Hills house about 7 years back, consolidating workplaces from Santa Monica and Glendale into one classy zip code.
Playboy and Rizvi agents decreased to comment.