Culver City: A Year in Review02/14/2020
Culver City, once a leafy suburb rooted in moviemaking, has quickly become the epicenter of the world’s tech and media giants. This year alone, venture capitalists have invested up to $1 billion1 specifically into Culver City startups focusing on technology, media, game development and entertainment. As we delve deeper into 2020, Olive Hill Group, as a Culver City based investment firm, is taking a moment to review the state of big-name tenants and talent over the previous year while optimistically anticipating the continued growth of tech and media in Culver City for the upcoming decade.
Olive Hill Group officially moves its headquarters to Culver City. As a full service commercial real estate firm that specializes in operating and repositioning creative offices in the Silicon Beach submarket, it was essential to move into the city where tech and media are thriving.
Scopely announces its expansion to The Platform. 2 With Culver City being the central hub for both media and entertainment, it is appropriate that a leading interactive entertainment and mobile games company continues to grow in this sphere.
Nantworks is a biotech firm that was born in Culver City but has grown to the extent of expanding their space in the city they’ve always called home. The final building will be located on 9919 Jefferson Boulevard with 62,000 square feet of office space.4
Apple, Inc. eagerly anticipates completion of their new Silicon Beach headquarters in 2020. This market leader previously announced that they expect to have 1,000 employees in Culver City by 2022.5
HBO has committed to leasing 240,000 square feet of space at the highly anticipated Ivy Station. As a subsidiary of Warner Media Entertainment, HBO has decided to join the Silicon Beach community.6
Amazon Studios will be expanding their current space at The Culver Studios. The expansion will include 413,000 square feet of new office space opening up opportunities for more tech and media talent.7
The emergence of tech and media in Culver City has given context to an area that had initially seen its prime in the early to mid 1900’s, whilst the commonality amongst tenants and talent in Silicon Beach has given Culver the focus it sorely needed to be put back on the map.
1 ^ Marker – Why Amazon, Apple, and a Slew of Startups Are Fighting to Get Into This L.A. Neighborhood, https://marker.medium.com/why-amazon-apple-and-a-slew-of-startups-are-fighting-to-get-into-this-l-a-neighborhood-da16ceb1f7d8
2 ^ Urbanize LA – Scopely’s New Headquarters Gets Above Ground in Culver City, https://urbanize.la/post/scopelys-new-headquarters-gets-above-ground-culver-city
3 ^ Scopely – Seize the Play, https://scopely.com/about/
4 ^ Urbanize LA – Expansion Planned for Culver City Office Park, https://urbanize.la/post/expansion-planned-culver-city-office-park
5 ^ Urbanize LA – Apple’s Culver City Office Building Gets its Curving Glass Façade, https://urbanize.la/post/apples-culver-city-office-building-gets-its-curving-glass-facade
6 ^ Los Angeles Times – HBO to relocate its West Coast home from Santa Monica to Culver City, https://www.latimes.com/business/hollywood/la-fi-ct-hbo-move-culver-city-20190403-story.html
7 ^ Urbanize LA – Fresh Renderings of Amazon’s Future Culver City Home, https://urbanize.la/post/fresh-renderings-amazons-future-culver-city-homeBack to news