News

Michael Preiss, Principal RSFLA, recently completed a lease transaction at 1453 3rd Street Promenade in downtown Santa Monica for a fully renovated creative office space with WeWork Enterprises.

The space had been occupied by Morgan Stanely for over 20 years. It was the poster child for “Your Grandfather’s Office Space”. Large perimeter offices blocked any natural light. Interior spaces were small, drywall, and fluorescent lit with brown carpet throughout.

Given the corner location in the building, with two perimeter walls of operable windows, and the concrete floors beneath, the potential for a contemporary creative office build was there, but very hard to visualize.

RSFLA engaged SteelBlue to create VR panoramas of a fully built out suite with high end finishes. By donning a VR headset while walking the suite, WeWork’s team realized the potential and inked a 15 year lease with a significant TI commitment.

WeWork Enterprise is designed for single tenant use on a global scale. The final design is compelling and ready for occupancy (https://www.wework.com/enterprise).

The lease is valued at $23 Million