LOS ANGELES—Playboy Enterprises is moving its headquarters from Civic Center Drive in Beverly Hills about three miles away to central Wilshire Boulevard in Westwood, according to TheRealDeal.com, a real estate news site.
The iconic company will take up residence in a 40,000-square-foot sublease at 10960 Wilshire, which is owned by Douglas Emmett Inc.
Situated close to the 405 freeway and UCLA campus, the building includes an expansive lobby and plaza with contemporary public spaces and a park-like courtyard.
Playboy, founded in 1953 by former Esquire copywriter Hugh Hefner, sold the last shares owned by Hefner’s estate in December, just three months after Hefner died at age 91.
Playboy Enterprises is now controlled by Rizvi Traverse Management LLC, an investment firm founded by India-born billionaire Suhail Rizvi, which also owns large shares of the social media platforms Twitter and Snapchat, the Hollywood talent agency ICM, and the private spaceflight company SpaceX.
The firm has indicated plans to focus on licensing the Playboy brand name, rather than publishing the magazine or creating new Playboy products.