TrueCar, Inc., the negotiation-free car buying and selling platform, has announced that it has signed a long-term lease for approximately 33,700 square feet of office space at 1401 Ocean Avenue in Santa Monica.
The beachfront location will serve as the company’s new headquarters as it moves to attract the top talent in technology to its growing workforce.
The space features views of the Pacific Ocean and is located just one block from the Third Street Promenade.
With plans to move into the building in mid-2015, the new lease also solidifies the company’s commitment to Silicon Beach – where it was founded in 2005 – and its leadership position within the LA technology hub.
“This move is key to our efforts to drive growth and to attract top-shelf talent,” said TrueCar Founder & CEO Scott Painter. “It turns out tech employees love living and working in Silicon Beach, so we’re excited to be expanding in a magnet location like this one.”
TrueCar will occupy two floors of the 1401 Ocean Avenue space, which will be designed by architect Russell Shubin of Shubin + Donaldson, who designed TrueCar’s current headquarters at 120 Broadway in Santa Monica.
Like the 120 Broadway space, TrueCar’s new Ocean Avenue offices will embody the company’s commitment to truth and transparency with glass partitions in lieu of walls as dividers of space, and by foregoing traditional offices for large, communal desks.
“Our location has played an integral role in our ability to attract and retain talent to-date,” said John Krafcik, TrueCar’s President. “With the new space, our footprint in Santa Monica will now accommodate 400 team members committed to developing innovative products to transform the car-buying and ownership experience.”