Warner Music Group

Entertainment Media Success Story
Client
  • Warner Music Group
Space
  • 270,000 sq. ft.
Industry
  • Entertainment / Media
Locations
  • Los Angeles
Services Provided
  • Transaction Management
Cresa Team
  • Matthew Miller

Client Objectives

Warner Music Group had large operations in three different buildings in two different submarkets, all with different lease expirations. The space and design in all three buildings were outdated, inefficient and no longer supported the needs of the various business units and record labels. The goal was to consolidate to one location and create a space that re-imagined their business for both employees and artists. The new space also needed to include recording studios, large public spaces for all-hands meetings and ample parking.

Results

After an extensive review of employee demographics, competitors, business partners and real estate submarkets, Warner Music Group chose a historic building in the Arts District in Downtown Los Angeles. The building was the first Ford Motor Company factory on the West Coast and was substantially unchanged from its original 1914 form. A developer is in the process of transforming it into a first-class creative office space while retaining its vintage character. Warner Music Group’s move marks the largest office relocation to Downtown Los Angeles in 30 years, and they will be the largest creative company in Downtown Los Angeles. Within the first year of the deal closing, several other entertainment firms signed leases in Downtown Los Angeles and the Arts District in what is now a growing trend.

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