Rather than jumping into a search for real estate based solely on available size, Cresa gathered and analyzed employee data and company tax information to pinpoint optimal submarkets for consideration. After touring relocation options in Downtown Los Angeles, Burbank, West Los Angeles and the South Bay, Cresa identified 100,000 SF in El Segundo that would enable Guthy-Renker to expand or contract its footprint while providing a corporate campus environment with a newly designed state-of-the-art interior to support its creative, technology and marketing workforce. The building also offered ample parking, which enabled Guthy-Renker to increase employee density and reduce costs. Building-top signage was negotiated as part of the lease as well.
The move to El Segundo represented significant savings on rent and parking compared to the higher costs of their Santa Monica location, as well as a projected savings of over $30 million in real estate and business taxes over the life of the lease.