Fandango is making moves to bulk up.
The online movie-ticket seller just signed a lease for a new space in Beverly Hills that is about twice the size of its current headquarters in West L.A.
Fandango will relocate from 12200 W. Olympic Blvd. to the top two floors at 407 Maple Drive in Beverly Hills this summer, the company said in a statement.
Fandango's current office has 50,000 square feet, a source close to the deal said, while the new digs are about 97,150 square feet, according to CoStar. Fandango didn't provide the terms of the new lease.
“It provides enough space to accommodate the company’s rapid expansion,” said David Toomey, a principal at Cresa who represented Fandango in the deal.
The space in the Tishman Speyer-owned property was previously occupied by Fox Interactive Media. Tishman Speyer’s John Ollen and Patrick Nally represented the company in the deal.
The lease comes after NBCUniversal Media-owned Fandango tacked on several new companies. It acquired on-demand video service M-Go in January, picked up movie review websites Rotten Tomatoes and Flixster the following month, and bought online movie ticket platform Cinepapaya this month.
“With the addition of Rotten Tomatoes, Flixster and our new video on-demand service, FandangoNOW (formerly M-GO) to our Fandango digital portfolio, it was time to find a new office space for our expanded workforce,” Fandango President Paul Yanover said in a statement.
Tishman Speyer will soon be looking to fill another big vacancy in Beverly Hills. Netflix Inc. will leave its current home at Tishman Speyer’s Maple Plaza next year when it moves into the 14-story Icon building in Hollywood, a Hudson Pacific Properties project set to soon finish construction.
Real estate reporter Daina Beth Solomon can be reached at firstname.lastname@example.org. Follow her on Twitter @dainabethcita for the latest in L.A. real estate news.
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