M
attel is expanding its studio operations with a new office in El Segundo. The toy maker has leased 60,000 square feet at Continental Park campus on South Douglas Street for its new hub. This move comes after Mattel purchased the Grand + Nash office campus next to its headquarters earlier this year for $59 million. The company plans to relocate from its current studio offices by next year.

    "This lease is part of our effort to modernize our real estate and better fit our design capabilities, entertainment needs, and growth," said David Traughber, senior vice president of commercial finance for Mattel. Brokers Nathan Piehl, Brett Racanelli, and Michael Condon represented Mattel in the leasing deal.

    Mattel is behind last year's hit comedy "Barbie" and is working on other films based on its toys, including a Hot Wheels movie produced by J.J. Abrams. The El Segundo market has fared better than some other office markets in Los Angeles County, with companies like media, tech, and entertainment firms increasingly choosing to locate there.

    The building Mattel leased was previously home to a company working for NASA's Apollo program and later became offices for a magazine publisher. Mattel itself was once a tenant at Continental Park four decades ago.