In the largest Westside deal of the quarter, publicly traded Hudson Pacific Properties Inc. purchased the Olympic-Bundy Media Campus from limited liability company MGP VIII for $89 million. The 11.6-acre complex includes four buildings totaling about 233,600 square feet. About 84,000 square feet is vacant, while nearly two-thirds of the space is leased through May to the Rubicon Project, an online advertising technology company.
Frozen yogurt company Pinkberry Inc. inked a seven-year lease to take 15,314 square feet at 3130 Wilshire Blvd. in Santa Monica. The company will move its corporate offices from West Hollywood by November, after its new space is renovated.
Demand Media Inc. rented 52,000 square feet at 1655 26th St. in Santa Monica in a long-term deal valued at nearly $23 million. The company will consolidate its 300 employees, currently working in multiple offices around Santa Monica, into the two-story office building, which will serve as its headquarters. MTV formerly occupied the space but vacated last year.
Music video website Vevo signed a five-year lease to take 12,000 square feet of space at Lionstone Group’s 117,500-square-foot creative office building The Annex at 5340 Alla Rd. in Playa Vista. The deal is valued at around $2.5 million. The company is relocating from Santa Monica.
Design and advertising firm 72andSunny signed up for 58,000 square feet of space in two buildings in Playa Vista owned by landlord Ratkovich Co. for 12 years. Buildings one and two are located at the Hercules Campus at 12145 and 12155 W. Bluff Creek Drive and were once part of Howard Hughes’ Hughes Aircraft Co.
Gentleman Scholar, a multimedia production studio, has signed a long-term lease valued at $2.5 million for 7,322 square feet of space at Alcion Ventures’ Blackwelder campus in Culver City. The company is moving from Santa Monica.
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