Teradata to rent former Northrop Grumman offices in El Segundo
Offices in a converted El Segundo manufacturing building formerly occupied by aerospace giant Northrop Grumman Corp. will be rented by data service provider Teradata.
Ohio-based Teradata has agreed to rent a 1950s-era warehouse at 601 Nash St. that Northrop converted to executive offices more than a decade ago. Teradata will move there next year from a nearby 20-story tower built in the 1980s.
Teradata’s relocation from a traditional high-rise building to a free-standing one-story office building is part of a county-wide trend of corporate users moving toward more casual, collaborative atmospheres, real estate broker Scott Steuber of Cushman & Wakefield said.
“They’re trying to create a more creative work environment for employees,” Steuber said.
The new facility will include a gym with locker rooms and an outdoor gathering space after Teradata finishes preparing the space. It already has such typical creative office features as an exposed bow truss ceiling and polished concrete floors. Northrop also installed a large backup power generator.
“We just could not pass up the improvements offered at 601 Nash that allowed us to stay within our budget and deliver a work environment that will promote employee productivity,” said Bruce Langos, chief operations officer of Teradata.
Terms of the lease with landlord Marcus Adams Properties were not disclosed, but real estate data provider CoStar Group it is a 10-year agreement that begins in June. At local rental rates the deal would be valued at about $16 million.
Northrop has been systematically reducing operations in Southern California to reflect expected cuts in defense spending. In September, Northrop confirmed that it had accepted buyouts from about 590 employees in its aerospace division. Most of them were in Redondo Beach, El Segundo and Palmdale.
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