Innocean USA inked one of the South Bay’s largest leases of the year by committing to 100,000 square feet at 888 Douglas Street in El Segundo, according to the Los Angeles Times. The marketing and communications firm is consolidating about 600 employees from multiple buildings in Huntington Beach into the newly leased space next summer.
Innocean USA Relocates 600 Employees to El Segundo
The American subsidiary of Seoul-based Innocean Worldwide has operated out of Huntington Beach since 2009. CEO Steve Jun stated that the firm is relocating due to a need for space. Founded by the Hyundai Motor Group, the international advertising agency serves Hyundai alongside other clients. When the firm moves its approximately 600 workers next summer, employees will gain access to a cafe, library, music room, mothers’ rooms, and prayer and meditation rooms. Innocean also plans to utilize part of the new space as a production facility for filming commercials and other digital content.
History and Transformation of the 888 Douglas Street Campus
The building housing Innocean’s upcoming offices carries a deep industrial history in the region. Constructed in 1930, the facility originally served as a bus manufacturing plant for the Pickwick Stage Company before Greyhound Lines absorbed it. Workers later manufactured airplanes inside the facility, including Douglas Aircraft Company’s World War II dive bombers. This period coincided with the South Bay’s emergence as a major national aerospace hub, a status the region maintains today with prominent local tenants such as Anduril and FlightWave.
Hackman Capital Partners acquired the property from Northrop Grumman in 2017. The real estate firm invested upwards of $100 million to convert the 500,000-square-foot campus into modern offices, completing the project in 2021. The converted airplane manufacturing plant now hosts notable tenants including cosmetics giant L’Oréal, meat substitute producer Beyond, hypersonic aircraft company Hermeus, immersive tech and media company Cosm, and life sciences firm Varda Space Industries.
Future Outlook for the South Bay Commercial Real Estate Market
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