It's official: Beverly Hills is now the world headquarters of Playboy Enterprises Inc.
The entire City Council was on hand at Tuesday's ribbon-cutting ceremony to welcome the company to its new location at 9346 Civic Center Drive.
Playboy signed a lease to rent 45,000 square feet of property from Tishman Speyer. The office space was formerly part of Hilton Hotels' headquarters.
"Beverly Hills is the perfect location for international entertainment companies," Vice Mayor John Mirisch said. "I'm very pleased that Playboy has decided to locate its worldwide headquarters in our city. I think it's a great fit."
Councilwoman Lili Bosse noted that "it was a very exciting day in Beverly Hills."
"World-famous Playboy chose Beverly Hills as its new home for its corporate headquarters," she said. "We welcome Playboy with enthusiasm and feel optimistic that its new home in our community will be successful and a positive choice."