original article: https://www.latimes.com/business/la-fi-lincoln-entrada-20181210-story.html
In a bet on the continuing allure of Silicon Beach, one of the neighborhood’s largest developers will erect a deluxe speculative office building near Playa Vista intended to appeal to tech, entertainment and media companies.
The $225-million building, called Entrada, will be shaped like a conventional mid-rise office structure, but with a major twist — every office floor will have two decks built into the interior of the structure that will be open to the elements.
Architecture firm Gensler calls these “innie” balconies because they will lie inside the lines of the six-story, 300,000-square-foot office portion of the building instead of projecting outside like typical balconies. The complex also will have shops and restaurants, as well as a landscaped roof deck for tenants atop the adjoining six-level garage.
“We have found the projects that are most successful have indoor-outdoor elements used in a lot of ways,” said Rob Kane, executive vice president of LPC West, the Western division of Dallas-based real estate developer Lincoln Property Co.
Lincoln was one of the largest developers of the Playa Vista planned community near Marina del Rey, erecting multiple office structures and Runway, the retail heart of the community with stores, restaurants, theaters and apartments.
Lincoln and its financial partners acquired the Entrada site near the intersection of Sepulveda Boulevard and Centinela Avenue in Culver City from Woodbine Legacy Investments, the owner of the DoubleTree by Hilton Los Angeles — Westside.
The site is now used as a parking lot for the hotel. In conjunction with the office development set to be completed in 2021, Woodbine will conduct a $35-million upgrade of the 44-year-old
The renovated hotel is intended to be an amenity for office tenants, who will be able to use its ballroom, fitness center, meeting rooms and pool. Woodbine is a partner in the office project with Lincoln and Goldman Sachs.
Entrada is being built on a speculative basis, which means it has no committed tenants. Kane said Lincoln is betting that demand for rental offices will remain strong in the Playa Vista area, where occupants include Google, Facebook, Belkin and Sony.
“We have been watching and participating in what has become an innovation hub for Los Angeles,” Kane said.
Outdoor space is coveted among the type of creative companies that are attracted to Playa Vista, said architect Gene Watanabe of Gensler, who is overseeing the design of Entrada.
The indoor decks are laid out in a way meant to give one to each tenant, he said, though it’s conceivable that the entire building may be leased to one company. He envisions the decks being used for meetings and other collaborative activities.
“They’re not out in a windy space or the rain,” Watanabe said, “so they can be used throughout the day.”