In our tech-centric world, people want experiential spaces. The rise of the trend has been most prevalent in the retail sector—where brands and retail owners see experience as a way of combatting competition from ecommerce platforms—but it has bled into other asset classes, and owners have seen experiential properties as a way to drive value. Now, developers are considering the user experience earlier on. Steaven Jones Development Company and Creative Office Properties are building INclave, a live-work-play property in Marina del Rey. The developers are focusing on building a unique experience by bridging the office and multifamily services and amenities, giving tenants more inclusive access and a seamless experience. You might call it a mega mixed-use project, because it is one that not only mixes asset classes, but that also in some ways overlaps asset classes through shared experiences. We sat down with Lawry Meister, president and CEO of Steaven Jones Development Company, to talk about the new property and their vision behind it.
GlobeSt.com: What is the vision of INclave?
Lawry Meister: INclave's vision is we are not creating just a building, but an experience. It's what make the property unique. The property has the amenities and the services that you would normally have just with a luxury apartment building are shared with the office tenants: a large pool, spa, outdoor pavilion with lounge furniture and flat screen TV, dog play area with grooming station, bleachers for outdoor meetings or movie nights, an outdoor game area. Indoors, we have a fully equipped gym and private yoga studio, business center and community room. We also have a concierge who will provide services (such as dry cleaning pick up or car washing) for both the office and residential tenants. We have the amenities shared, because we are creating a community environment where the lines between living, working and playing become blurred. Health and wellness are promoted with exercise facilities, outdoor spaces and an on-site healthy café. INclave also features an automated parking structure, using cutting-edge technology to make parking easier and more efficient.
GlobeSt.com: Why was Marina del Rey an ideal location for this project?
Meister: What were you seeing in the marketplace that made this the right time for such a development? Primarily demographic shifts to a younger, more tech-savvy population that values service and access to a variety of work spaces. People are realizing that with smart phones and Wi-Fi, it is possible to be connected to work 24/7. Yet, that does not promote a happy and balanced lifestyle. By having immediate access to a gym, or pool or outdoor lounge, people at INclave can easily take a break from work, then go back to work rested, more relaxed and less stressed and therefore happier and more productive.
Marina del Rey is the perfect location for INclave: in between Santa Monica and Playa Vista, and only 10 minutes from Culver City. The Marina Arts District is home to a number of technology, entertainment and other creative businesses that have favored creative office space. It also has condominiums and apartments that are appealing to the same demographic. There are also a number of other lifestyle amenities within walking distance (restaurants, hotels, stores, the beach) that our tenants are seeking.
GlobeSt.com: Have you done similar projects? Tell me a little bit about your background as a developer?
Meister: SJDC has been developing creative office space since 1991, when it renovated two buildings in downtown Santa Monica. We decided to take out the dropped T-bar ceilings, expose the brick and install skylights and operable windows to enhance the inherent architectural features of the building. The space leased very quickly to entertainment and technology tenants. We then proceeded to develop or redevelop 20 other creative office buildings in LA County (mostly on the Westside). All of these properties have remained fully leased. At the time, we weren't sure if it was a fad or a trend. Now we are looking at the future of office space. Companies are creating not just a culture within their companies, but also a lifestyle. And to attract and retain the best talent, they need to promote a healthy, balanced lifestyle for their employees.
GlobeSt.com: How does this project represent broader trends that you are seeing in development today?
Meister: Dynamic mixed-use environments like INclave are the future of real estate projects. The hours spent commuting are wasted, and people are deciding to live closer to home. Traffic in Los Angeles is worse than ever, and public transportation solutions have been slow to catch on. If people can live and work in close proximity, it helps them to improve their lives and have a more healthy lifestyle. The experience of a live-work-play environment, shared with other creative, forward-thinking individuals can lead to a more happy, fulfilled life.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Kelsi Maree Borland
