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The Honest Co. leases 38,000 SF office at Lincoln’s Playa Vista campus

The 10-year lease is worth $33.4M, with rent starting at $3.50 per SF per month in year one and rising to about $9.22 by the final year.

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The Honest Co. has signed a 10-year lease for 38,000 square feet at Lincoln Property Co.’s Playa Vista office campus, The Bluffs, at 12121 Bluff Creek Drive, with the company set to relocate its headquarters by May 1, 2027, according to filings reviewed by Bisnow.

Bisnow reports that the company’s undiscounted base rent begins at $3.50 per SF per month in the first year, moves to $3.75 in year two, increases to $7.25 in year three, and then rises annually to roughly $9.22 per SF by the last year of the lease.

The deal also includes a rent abatement, with 10 months of free rent applied to the first 10 months of the third year when rent rises above $7 per SF, and the lease value including the abatement is listed at $33.4M in SEC filings.

The Honest Co. is moving from 12130 Millennium Drive, which is owned by Barings and is also located in Playa Vista, as Bisnow notes.

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