{"id":1004732227,"date":"2024-10-07T10:53:00","date_gmt":"2024-10-07T18:53:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004732227"},"modified":"2024-10-07T12:59:41","modified_gmt":"2024-10-07T20:59:41","slug":"drawbridge-realty-pays-185m-for-universal-music-hq","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/","title":{"rendered":"Drawbridge Realty Pays $185M for Universal Music HQ"},"content":{"rendered":"\n<p>In a $185 million deal, Drawbridge Realty has purchased a Class A office building in Santa Monica, Calif. Clarion Partners was the seller of the property, which is 100 percent triple-net leased to Universal Music Group.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"775\" height=\"604\" data-attachment-id=\"1004732235\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/arboretum-gateway-featured\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg\" data-orig-size=\"775,604\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Arboretum Gateway featured\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Drawbridge Realty has acquired Arboretum Gateway at 2220 Colorado Ave. Image courtesy of CommercialEdge &lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg?w=775\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg\" alt=\"Drawbridge Realty has acquired Arboretum Gateway at 2220 Colorado Ave. in Santa Monica, Calif.\" class=\"wp-image-1004732235\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg 775w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg?resize=300,234 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg?resize=768,599 768w\" sizes=\"auto, (max-width: 775px) 100vw, 775px\" \/><\/a><figcaption class=\"wp-element-caption\">Drawbridge Realty has acquired Arboretum Gateway at 2220 Colorado Ave. in Santa Monica\u2019s media district. <em>Image courtesy of CommercialEdge<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Dubbed Arboretum Gateway, the 225,773-square-foot building was developed in 1999. The six-story asset is situated in the city\u2019s media district at 2220 Colorado Ave., at the epicenter of Silicon Beach.<\/p>\n\n\n\n<p>This part of Southern California is renowned for being home to media companies. Netherlands-based UMG N.V. is a world leader in music-based entertainment.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/innovative-solutions-for-return-to-office-challenges\/\">Innovative Solutions for Return-to-Office Challenges<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The property has two UMG-operated recording studios, several state-of-the-art conference facilities with cutting-edge AV, secure parking with direct elevator access, an onsite food commissary and coffee bar, collaboration areas and outdoor decks.<\/p>\n\n\n\n<p>Newmark represented Clarion Partners in the sale. The team included Kevin Shannon, co-head of U.S. capital markets; Alex Foshay, executive vice chairman &amp; head of international capital markets; as well as Vice Chairmen Ken White, Rob Hannan, Laura Stumm and Michael Moll.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-long-term-commitments\">Long-term commitments<\/h2>\n\n\n\n<p>UMG holds a long-term lease at Arboretum Gateway, the third-largest signed in the market since 2021, after Snap and Hulu.<\/p>\n\n\n\n<p>Snap Inc., the parent company of Snapchat, has extended its stay there in January when it signed a 10-year lease extension for more than 467,000 square feet across eight office buildings <a href=\"https:\/\/www.commercialsearch.com\/news\/bxp-snaps-up-big-lease-extension-in-santa-monica\/\">at the Santa Monica Business Park<\/a>, a 21-building, 1.2 million-square-foot creative office campus owned by BXP. It is less than 2 miles from the UMG\u2019s headquarters.<\/p>\n\n\n\n<p>Other major tenants in the vicinity include Starz, AMC Networks, Amazon, Roku and Sony.<\/p>\n\n\n\n<p>It is now part of a Drawbridge Realty national portfolio that includes more than a dozen Southern California properties, including buildings occupied by tenants in Westlake Village, Orange County and San Diego County.<\/p>\n\n\n\n<p>Last month, RBC Wealth Management <a href=\"https:\/\/www.commercialsearch.com\/news\/drawbridge-inks-long-term-lease-at-austin-office-campus\/\">signed a seven-year lease<\/a> within Uplands Corporate Center, a two-building Class A office campus in Austin&#8217;s Southwest submarket. Drawbridge Realty owns the 291,448-square-foot property.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The property is situated in Los Angeles\u2019 Silicon Beach.<\/p>\n","protected":false},"author":3568,"featured_media":1004732235,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21783,1594,21742,21747,15],"tags":[37444],"class_list":["post-1004732227","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-investment","category-los-angeles","category-latest","category-office","category-west","tag-drawbridge-realty"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Drawbridge Realty Pays $185M for Universal Music HQ - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Drawbridge Realty purchased a Class A office building in Santa Monica, Calif. Clarion Partners was the seller in a deal arranged by Newmark.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Drawbridge Realty Pays $185M for Universal Music HQ\" \/>\n<meta property=\"og:description\" content=\"Drawbridge Realty purchased a Class A office building in Santa Monica, Calif. Clarion Partners was the seller in a deal arranged by Newmark.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-10-07T18:53:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-07T20:59:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"775\" \/>\n\t<meta property=\"og:image:height\" content=\"604\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Richard Berger\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/\",\"name\":\"Drawbridge Realty Pays $185M for Universal Music HQ - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg\",\"datePublished\":\"2024-10-07T18:53:00+00:00\",\"dateModified\":\"2024-10-07T20:59:41+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6d4c5f1b2f682b3604ad9fe73c19fed7\"},\"description\":\"Drawbridge Realty purchased a Class A office building in Santa Monica, Calif. Clarion Partners was the seller in a deal arranged by Newmark.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg\",\"width\":775,\"height\":604,\"caption\":\"Drawbridge Realty has acquired Arboretum Gateway at 2220 Colorado Ave. Image courtesy of CommercialEdge\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Drawbridge Realty Pays $185M for Universal Music HQ\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6d4c5f1b2f682b3604ad9fe73c19fed7\",\"name\":\"Richard Berger\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/bf9a97027a74b606d01db57720228242e692d3db9d827930b02ed8baaf3623a4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/bf9a97027a74b606d01db57720228242e692d3db9d827930b02ed8baaf3623a4?s=96&d=mm&r=g\",\"caption\":\"Richard Berger\"},\"description\":\"Richard Berger has 20+ years of experience covering commercial real estate for various media sites and CRE-related associations. He lives in Northern Virginia.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/richardberger\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Drawbridge Realty Pays $185M for Universal Music HQ - Commercial Property Executive","description":"Drawbridge Realty purchased a Class A office building in Santa Monica, Calif. Clarion Partners was the seller in a deal arranged by Newmark.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/","og_locale":"en_US","og_type":"article","og_title":"Drawbridge Realty Pays $185M for Universal Music HQ","og_description":"Drawbridge Realty purchased a Class A office building in Santa Monica, Calif. Clarion Partners was the seller in a deal arranged by Newmark.","og_url":"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2024-10-07T18:53:00+00:00","article_modified_time":"2024-10-07T20:59:41+00:00","og_image":[{"width":775,"height":604,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg","type":"image\/jpeg"}],"author":"Richard Berger","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/","url":"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/","name":"Drawbridge Realty Pays $185M for Universal Music HQ - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg","datePublished":"2024-10-07T18:53:00+00:00","dateModified":"2024-10-07T20:59:41+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6d4c5f1b2f682b3604ad9fe73c19fed7"},"description":"Drawbridge Realty purchased a Class A office building in Santa Monica, Calif. Clarion Partners was the seller in a deal arranged by Newmark.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg","width":775,"height":604,"caption":"Drawbridge Realty has acquired Arboretum Gateway at 2220 Colorado Ave. Image courtesy of CommercialEdge"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/drawbridge-realty-pays-185m-for-universal-music-hq\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Drawbridge Realty Pays $185M for Universal Music HQ"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6d4c5f1b2f682b3604ad9fe73c19fed7","name":"Richard Berger","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/bf9a97027a74b606d01db57720228242e692d3db9d827930b02ed8baaf3623a4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/bf9a97027a74b606d01db57720228242e692d3db9d827930b02ed8baaf3623a4?s=96&d=mm&r=g","caption":"Richard Berger"},"description":"Richard Berger has 20+ years of experience covering commercial real estate for various media sites and CRE-related associations. He lives in Northern Virginia.","url":"https:\/\/www.commercialsearch.com\/news\/author\/richardberger\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Arboretum-Gateway-featured.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004732227","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/3568"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004732227"}],"version-history":[{"count":5,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004732227\/revisions"}],"predecessor-version":[{"id":1004732240,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004732227\/revisions\/1004732240"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004732235"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004732227"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004732227"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004732227"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}