Mattel, the toy maker behind main manufacturers corresponding to Barbie and Scorching Wheels, is upgrading its actual property holdings, shifting its studio operations and design middle into new houses.
The corporate, headquartered in El Segundo, is planning to maneuver its studio operations to a lately renovated 60,000-square-foot constructing by 2025. Mattel signed a multiyear contract to lease the workplace area at 831 S. Douglas St.
Mattel is planning to maneuver its studio operations to a lately renovated 60,000-square-foot constructing by 2025.
(Courtesy of Continental Growth Corp.)
The constructing, positioned close to Mattel’s present headquarters on Continental Boulevard, consists of studios the corporate will use to shoot pictures and movies to advertise its merchandise, in addition to a patio that has fireplace pits and barbecue and kitchen areas. The constructing is near different facilities together with eating places, an upscale athletic membership, inns and shops. For the final 30 years, Mattel has housed its studio operations on its campus, which incorporates a number of buildings.
The actual property deal is a part of Mattel’s efforts to revamp its workplace area as the corporate goals to bolster productiveness and creativity within the office together with attracting new staff. As employees begin returning to the workplace after the COVID-19 pandemic, companies try to make the workplace extra engaging for workers who’ve been accustomed to working remotely.
The inside of a constructing Mattel is shifting its studio operations to by 2025. Mattel signed a multiyear contract to lease the workplace area at 831 S. Douglas St.
(Courtesy of Continental Growth Corp.)
The commercial constructing, a part of Continental Growth Corp.’s Continental Park campus, was lately remodeled to incorporate a studio manufacturing space to fulfill Mattel’s artistic wants.
“Employers have strived to offer causes for his or her staff to wish to come again into the workplace and work together with their friends, stated Bob Tarnofsky, govt vice chairman of actual property at Continental Growth. “The facilities that they supply are far larger than what we noticed usually pre-COVID.”
As employers rethink the way forward for work, it’s not unusual for companies to signal shorter-term leases, Tarnofsky stated. Mattel, nevertheless, signed a long-term lease. He declined to say how a lot Mattel paid for the lease and the way lengthy it lasts.
A patio with fireplace pits is among the many facilities of the constructing.
(Courtesy of Continental Growth Corp.)
This yr, Mattel additionally introduced it is going to be shifting its design middle, which has been positioned on Mariposa Avenue for greater than three many years, to a newly renovated constructing in 2026. The middle, the place staff design the hair, clothes and different elements of toys, shall be housed in a 167,767-square-foot workplace area generally known as Grand + Nash at 2160 E. Grand Ave. Mattel bought the area for $59 million from New York Life Insurance coverage.
“We’re embarking on a big inside modernization of our headquarters constructing at 333 Continental Boulevard, infused with the identical design rules and impressed by workplace modernization efforts at Mattel workplaces across the globe,” David Traughber, Mattel’s senior vice chairman of finance and head of worldwide actual property, stated in an announcement.
The buildings that presently home Mattel’s studio operations and design middle are leased services the corporate shall be vacating.
As of December 2023, Mattel had roughly 33,000 employees in additional than 35 international locations worldwide, in response to the corporate’s annual report. The corporate has roughly 2,000 employees in El Segundo and presents its staff a hybrid work surroundings.
