Los Angeles, CA

CBRE Announces OffWorld, Inc. Leases 35,640 Square-Foot Space at Former NASA Jet Propulsion Laboratory-Occupied Property in Altadena, Calif.

09 Feb 2022

a 35,640 square-foot office property at 540 W. Woodbury Road

CBRE announced that OffWorld Inc., a space robotics company, signed a lease at a 35,640 square-foot property formerly occupied by JPL in Altadena, Calif.

CBRE’s Kevin Duffy, Natalie Bazarevitsch and Jackie Benavidez, alongside Colliers International’s Billy Walk, represented the landlord, Malik Bros LLC, in the transaction.

OffWorld is expanding into the new office and research & development space at 540 W. Woodbury Road to accommodate the company’s growth.

“This latest transaction is reflective of the continued growth we are seeing in the Pasadena and Altadena areas by robotics, life science, technology & healthcare companies over the past year,” said Duffy. “This growth is helping to offset the limited expansion by professional services companies in the area.”

Tech, gaming and the creative sectors supported leasing activity in Los Angeles in the fourth quarter of 2021, according to CBRE research. Vacancy and overall sublease availability decreased in the face of strong demand in the last three months of the year, driven particularly by the creative and tech sectors as they took advantage of opportunities in the market.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.