Drawbridge Realty acquired Universal Music Group's Santa Monica headquarters for $185 million, marking its first investment in Los Angeles' Westside and expanding its property portfolio.
The 225,773-square-foot Class A office building on 2220 Colorado Avenue is fully occupied by Universal Music Group, holding its lease until July 2036.
With Santa Monica's office market showing a vacancy rate of 21.3 percent, this purchase exemplifies Drawbridge's strategic investment in a key entertainment hub.
The building, which includes two recording studios and outdoor workspaces, is strategically located near major media companies like Amazon and Sony, enhancing its value.
Collection
[
|
...
]