Santa Monica is affiliated with video game developers and major esports operators.
Sources told Commercial Observer that Riot games is expected to sublet approximately 131,000 square feet The Beachbody Company in a Santa Monica office owned by Starwood Capital Group.
The office in Lantana Entertainment Media Campus is located in 3301 Boulevard Exhibition, about a quarter of a mile from the Riot Games campus in Los Angeles, where the League of Legends Video game developed. Starwood acquired the Lantana office building and the adjacent 3003 Exposition building for $ 210.9 million in 2019.
Riot Games declined to comment. Beachbody and Starwood did not respond to requests for comment.
According to media reports, it is The Beachbody Company Signed a 10-year lease in 2015 to expand its existing space in Lantana. The publicly traded fitness brand behind popular exercise programs like P90X reported a network Loss of $ 12.4 million for the second quarter this year, even though digital revenue is up 20 percent compared to the same period last year.
Riot Games was founded in 2006 by. founded Brandon Beck and Marc Merrill, publishes video games and operates international esports leagues.
LA’s westside has attracted much of the top of the circle Leasing activity in the last year, mainly driven by technology and media companies. Last week CO reported Activision Publishing, heard Activision Blizzard, moved its headquarters to the Pen factory office in Santa Monica in sublease for nearly 90,000 square feet. year and Hulu also this year both signed or expanded their place in Santa Monica, one of the county’s tightest, highest performing markets.
Gregory Cornfield can be contacted at [email protected].