Updated: Saturday, August 19, 2017, 10:00 p.m.: Equinox is gobbling up space all over Los Angeles County, and doesn’t seem to be slowing its (VO2 Max) pace.
The fancy gym, a subsidiary of the Related Companies, just inked a deal for its 18th L.A. area club, and its first in Culver City, Equinox’s John Klein told The Real Deal.
Equinox is taking 32,000 square feet in a 20-year deal at LBA Realty’s under-construction One Culver development at 10000 Washington Boulevard.
The club will fill the retail space on the ground floor, with additional space on the second floor and a cafe at the entrance to the development, said Klein, who brokered the deal in-house along with Jeff Pion of CBRE. LBA’s Eric Brown represented the landlord.
LBA is renovating the former Sony Studios Plaza into a Gensler-designed modern building with 300,000 square feet of office space and roughly 65,000 square feet of retail. Equinox plans to open at the project soon after its expected completion in the first quarter of 2018.
The development sits near Culver Studios — where owner Hackman Capital is planning an expansion, and where Amazon Studios reportedly signed a lease . It’s also near Sony Pictures Studios, where a new building was recently put up for the Home Entertainment Division.
Culver City, one of the rare walkable areas in L.A., is in the throes of a building boom. IDS Real Estate Group is nearing the finish line on its 280,000-square-foot C3 creative office development at 5800 Bristol Parkway. HBO is planning to relocate its headquarters to the area, absorbing a mixed-use building that being Lincoln Property Company is developing at 8777 Washington Boulevard.
“Platform set the stage from the retail side, and there are rumors that HBO is moving in,” Klein said. “The corporate population is in flux and there has been a residential boom. The cost to entry for buying a home is over $1 million, and those people have the discretionary income to [become Equinox] members.”
The gym recently opened a new spot at the Westfield Century City. Its location at 5750 Wilshire Boulevard in the Miracle Mile is under construction, and is expected to open in October.
This story has been updated to reflect the accurate size of the C3 development. It is 280,000 square feet.