Leveling Up: Hasbro Signs Long-Term Lease in West Hollywood
The company will move in during the first quarter of 2027.
Global gaming company Hasbro has signed a long-term lease at CIM Group’s The Lot at Formosa, a 112,000-square-foot office building in West Hollywood, Calif. The lease includes 31,435 square feet across the third floor and part of the fourth floor of the building.
The new space will house approximately 100 employees working in the company’s film, TV, gaming, licensing and toy divisions. Hasbro, which operates across film, television, digital content, gaming and consumer products, is consolidating Los Angeles–based functions tied to its expanding media and content strategy.
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With this lease agreement, Hasbro will vacate its space in Burbank, Calif., where it leases 80,000 square feet. The tenant is expected to move into the new office in the first quarter of 2027.
The Lot at Formosa spans five floors and is now 100 percent leased following Hasbro’s commitment. Other tenants at the property include Live Nation, People Inc. and Miramax. Floorplates at the building are 22,000 square feet, according to Yardi Matrix. Last June, the owner received a $42.9 million loan from CIM Group Debt Funds, the same source shows.
A historic site
The 11-acre site at 1041 N. Formosa Ave. was originally built in 1918. The property includes seven sound stages, production offices, three modern office buildings and two large parking structures. Warner Brothers acquired the lot in 1980.
The films West Side Story and Some Like It Hot were produced at The Lot. Over the years, the site has gone through expansion and modernization. These expansions include the construction of the Class A office buildings—Formosa South, Formosa West and Courtyard.
The Lot at Formosa is located in the “30-Mile Zone,” central to the entertainment industry in Southern California. The property is near Santa Monica Boulevard and the La Brea/Santa Monica bus stop is a block away from the asset.
LA office vacancy lowers
At the start of 2026, the Los Angeles office sector recorded a 14.6 percent vacancy rate, below the national average of 18.2 percent and a 170-basis-point year-over-year decline, according to a March Yardi Matrix report. The metro posted one of the lowest vacancy rates in the nation, with only Manhattan, Miami and Tampa ranking lower.
The market’s flex office inventory, meanwhile, totaled 7.3 million square feet across 343 locations, with another 2.1 million square feet under construction.
Hasbro’s lease comes as major companies in the industry are expanding in the Los Angeles area. Last month, Netflix was looking to acquire Radford Studio Center, a 1.2 million-square-foot stage, support and office campus for movie production. The campus is being sold at a significant discount.
Also in the gaming sector, Riot Games purchased Element LA, a 284,037-square-foot office campus from Hudson Pacific Properties. Riot was a tenant at the property before purchasing the asset. The company paid $231 million for the five-building property in December 2025.
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