PASADENA, Calif.–(BUSINESS WIRE)–Jun 22, 2022–
LPC West, the West Coast arm of national real estate firm Lincoln Property Company, has signed the first tenant to its highly anticipated new Class A office building in Old Pasadena, delivering new headquarters for leading food and beverage company Dine Brands Global.
The long-term lease agreement marks a major milestone for 10 West, kicking off a wave of leasable space in Old Pasadena’s first office development in three decades. Located at the former campus of engineering firm Parsons Corp., 10 West comprises three state-of-the-art five-story brick buildings, which complement existing nearby structures and future on-site residential and office spaces.
Dine Brands, one of the world’s largest full-service dining companies, will occupy 92,000 square feet on the fourth and fifth floors of the building, which was completed in the first quarter of 2022.
“We are thrilled to have completed the 10 West development, delivering best-in-class office space in the heart of historic Old Pasadena,” said Rob Kane, Executive Vice President at LPC West. “Dine Brands Global is precisely the type of leader in its field that we aim to attract to this premier office campus, and we look forward to a terrific partnership moving forward.”
Established in 2007, Dine Brands is the franchisor of iconic restaurant brands Applebee’s Grill + Bar and IHOP, with more than 3,400 restaurants worldwide. Dine Brands is relocating its global headquarters to 10 West Walnut from its previous home in nearby Glendale.
“We are proud to be the pioneering first tenant at 10 West, which offers expansive amenities, excellent transit accessibility, and the vibrance of a city known for its innovators,” said John Peyton, CEO at Dine Brands Global. “Moving our headquarters here will enable us to further grow our business, team members, and brands. We are excited to call Old Pasadena home.”
The first phase of LPC West’s 100 West Walnut project, 10 West replaces old parking lots with a five-story creative office building, retail space and 394 residential units. Property features include efficient office configurations scalable from 40,000 square feet to 600,000 square feet, floor-to-ceiling windows, and 22,000 square feet of ground-level retail amenities and event space.
Located steps from Old Pasadena’s robust dining and shopping amenities and the Metro Gold Line, 10 West is just minutes from prized local cornerstones such as the Rose Bowl, California Institute of Technology, and Norton Simon Museum. With 3,000 square feet of top-floor outdoor decks, the building offers unobstructed views of the San Gabriel Mountains, Pasadena City Hall, and Downtown Los Angeles.
Featuring high-tech infrastructure and expansive amenities, Pasadena hosts major employers such as NASA’s Jet Propulsion Lab, Art Center College of Design, and the soon-to-open Kaiser Permanente School of Medicine. The 10 West campus is poised to add to the city’s strong roster of local employers.
Dating back to the 19th Century, Old Pasadena features restaurants, specialty boutiques, galleries, theaters, and other businesses. In addition to Metro Gold Line accessibility, the neighborhood has near-perfect walkability scores and direct access to the 210 Freeway.
About Lincoln Property Company
Lincoln Property Company founded in 1965 by its chairman Mack Pogue, is a privately-owned real estate firm involved in real estate investment, development, property management and leasing worldwide. Lincoln has offices in all major markets of the U.S. and throughout Europe. Lincoln’s cumulative development efforts have produced over 143 million square feet of commercial space and over 216,000 multifamily residential units. Lincoln Property Company is one of the largest office owner and managers in the United States. Access LPCWest.com for more information.
About Dine Brands Global
Dine Brands Global, Inc. (NYSE: DIN), through its subsidiaries, franchises restaurants under both the Applebee’s Neighborhood Grill + Bar and IHOP brands. With over 3,400 restaurants combined in 16 countries and approximately 340 franchisees, Dine Brands is one of the largest full-service restaurant companies in the world. For more information on Dine Brands, visit the Company’s website located at www.dinebrands.com.
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CONTACT: Matt McKinney
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KEYWORD: CALIFORNIA UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: COMMERCIAL BUILDING & REAL ESTATE URBAN PLANNING CONSTRUCTION & PROPERTY LANDSCAPE INTERIOR DESIGN PUBLIC RELATIONS/INVESTOR RELATIONS ARCHITECTURE FOOD/BEVERAGE COMMUNICATIONS RETAIL RESTAURANT/BAR
SOURCE: LPC West
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PUB: 06/22/2022 12:10 PM/DISC: 06/22/2022 12:10 PM