Two prominent real estate investment firms are planning a major office building complex in Playa Vista, adding another large development to an area already at the heart of a construction boom, the Los Angeles Times reports.

Tishman Speyer and Walton Street Capital are paying more than $200 million for land south of Marina del Rey where the owners of entertainment company DreamWorks SKG once planned to build a studio, according to people with knowledge of the deal who asked not to be identified because the transaction is still in escrow.

They are expected to develop an office campus that is likely to cater to the area’s burgeoning entertainment and technology businesses.

By developing the last available piece of commercially zoned land in Playa Vista, the project would complete Playa Vista’s design as a combined residential, retail and business complex and further cement the transition of that section of Los Angeles County from an industrial center to a white-collar business destination.

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