A company sells its original office for millions, but still says it’s ‘rooted’ in the neighborhood
Skechers moves to a new campus, but the old office is still on the market.
The story
Skechers, a $10 billion shoe brand, is relocating its headquarters to a new 500,000 sq ft campus and selling its original 28,000 sq ft office in Manhattan Beach, which now serves as an auxiliary location for apparel and kids divisions.
Source: wwd.com
Our reading
Skechers is selling its original office, a 28,000 square foot building that now serves as an auxiliary space for apparel and kids divisions. The company says it’s moving to a bigger campus, but the old site still has a parking garage and possible retail space. It’s like a company selling its first apartment, then saying it’s still ‘home.’
The new campus is across the street from the old one, which makes sense if you’re trying to keep the illusion of staying put. The company says it’s ‘rooted’ in Manhattan Beach, but the only thing that’s staying is the original store. The rest is just real estate with a price tag.
The irony is that the new campus is a five-building complex, but the old one is still there, waiting to be bought by someone else. Skechers is moving up, but the past is still standing, just for sale.
