Why Silicon Beach?
Silicon Beach has rapidly grown over the past few years as more and more companies have been moving to the area. Existing tenants Hulu, CTRL Collective, and Honest Company, explained during the panel how the area provides one of the most unique working environments for their firms.
Nearby amenities and dynamic neighborhoods provide a place for employees to live, work and play. Surrounding office, residential and mobility infrastructure are also key components. The active lifestyle of the beach and year-round sunshine aligns with these brands missions’ to create a holistic, healthy and inviting work environment for their staff.
Tenants are also relocating to Silicon Beach for the talented employee pool living in the area. Brands like Hulu examined where each of their employees live, taking into account commute ease. The area also proves to be a recruiting asset, allowing companies to easily entice talent from around the country to move to sunny Southern California. As more innovative tenants move to the area, enhanced opportunities to collaborate with one another is at an all-time high.
Tenants in Silicon Beach are developing spaces that focus on the practicalities of collaboratively working together while allowing for flexibility and ultimately helping attract and retain talent. As the beaches boom, there is a huge demand for new spaces at a low cost with a fast turn around. Educating tenants and bringing in contractors early to establish budgets can help ease quick turnarounds.
As larger tenants continue to move in, there needs to be a mindfulness and sensitivity to displacement. Engaging existing communities and allowing smaller startups the ability to lease space as the area expands is key to keeping Silicon Beach diverse and authentic.