YouTube and Earthbound Media Group have signed on to become the first tenants at The Hercules Campus at Playa Vista, according to property owner The Ratkovich Company.
YouTube, a Web video sharing company owned by Google, plans to occupy space for an extension of the YouTube Next Lab facility in New York. Earthbound Media Group, an adaptive marketing agency, will relocate to Playa Vista from its current Orange County headquarters and consolidate a satellite office in Culver City, a Ratkovich spokesperson said.
The Hercules Campus is comprised of 11 existing buildings including the hangar where Howard Hughes’ legendary Spruce Goose aircraft was built. All 11 buildings are considered historic landmarks.
“We are thrilled to welcome Earthbound Media Group and YouTube to The Hercules Campus during this exciting time for the property,” said Wayne Ratkovich, founder and president of The Ratkovich Company.
“Since purchasing The Hercules Campus, we have been committed to revitalizing the property to cater to non-traditional companies known for their leadership in the emerging media, technology and entertainment industries. We couldn’t have asked for two better groups of people to start our tenant roster and we look forward to welcoming more of the city’s entrepreneurial, innovative and creatively-inclined companies in the future.”
Earthbound Media Group works in the fields of brand and business strategy, digital media and enterprise technology for clients that span the Fortune 500 as well as for institutions within higher education, health care and non-profit sectors. Under a 10-year lease, the company will occupy all of building three, a former helicopter hangar and the site that housed the cockpit for the Spruce Goose, totaling 15,000 square feet.
“We believe The Hercules Campus at Playa Vista will be a hotbed for emerging media and technology and the perfect fit for our new headquarters,” said Damien Navarro, managing partner at Earthbound Media Group.
Renovations to all the buildings on the campus are underway and Earthbound Media Group hopes to move in this summer.
“It truly is inspiring to be surrounded by a property with such great historical innovative significance and it is why we are coining our new home ‘The Innovative Headquarters for Earthbound Media Group,’” said Dr. Blaine Behringer, managing partner for Earthbound Media Group.
YouTube recently signed a lease to occupy building 17, a space totaling approximately 40,000 square feet for its Next Lab facility. The Lab, as it will be called, will function as a mixed-use creative lab where West Coast YouTube Partners can learn from industry experts, collaborate with other creators and have access to the latest equipment to take their channels to the next level, a YouTube spokesperson said.
The Lab is expected to officially open the doors of its new location later this year.
The Ratkovich spokesperson said the company recently secured a $20 million development loan that will be used toward additional property renovations and redevelopment at The Hercules Campus. The first phase of the renovations is expected to be fully completed this summer.