LOS ANGELES — Universal Music Group (UMG) has leased 146,636 square feet at LNR Warner Center in the Los Angeles submarket of Woodland Hills. The seven-building campus is located at 21301 Burbank Blvd. The 10-year lease is estimated at a reported $46 million.
UMG will occupy the top four floors of the five-story building. This is the largest relocation lease by square footage in the San Fernando Valley so far this year, according to CBRE, which represented UMG.
The music company plans to consolidate its two existing Woodland Hills offices. The new lease will commence this February. UMG’s Santa Monica offices will not be affected by the relocation.
The company was represented by CBRE’s Paul Stockwell, Josh Leibowitz and Jeremy Charles. Hines was represented in-house by Todd Later and Eric Lyon.