{"id":1004734368,"date":"2024-10-25T01:34:29","date_gmt":"2024-10-25T09:34:29","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004734368"},"modified":"2024-10-25T05:20:20","modified_gmt":"2024-10-25T13:20:20","slug":"global-music-company-relocates-la-office","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/global-music-company-relocates-la-office\/","title":{"rendered":"Global Music Company Relocates LA Office"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004734373\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/global-music-company-relocates-la-office\/wilshire-and-palm\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Wilshire-and-Palm.jpg\" data-orig-size=\"1200,900\" 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;1664877282&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=\"Wilshire and Palm\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Wilshire-and-Palm.jpg?w=1024\" height=\"768\" width=\"1024\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Wilshire-and-Palm.jpg?w=1024\" alt=\"Exterior shot of Wilshire &amp; Palm, a creative office building in Beverly Hills, Calif.\" class=\"wp-image-1004734373\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Wilshire-and-Palm.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Wilshire-and-Palm.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Wilshire-and-Palm.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Wilshire-and-Palm.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption class=\"wp-element-caption\">Wilshire &amp; Palm rises seven stories in Beverly Hills. <em>Image courtesy of JLL <\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Concord has leased 32,241 square feet at Wilshire &amp; Palm, a redeveloped creative office building at 9171 Wilshire Blvd. in Beverly Hills, Calif. JLL negotiated on behalf of Cruzan, the landlord, while CBRE represented the tenant.<\/p>\n\n\n\n<p>The global music company, which supports more than 125,000 artists and songwriters, plans to move from its current Los Angeles location at 5750 Wilshire Blvd. to Beverly Hills in the third quarter of 2025. Concord will occupy the entire sixth floor and penthouse of the building.<\/p>\n\n\n\n<p>Concord is headquartered in Nashville, Tenn. In addition to Los Angeles, the company has offices in New York, Miami, London, Berlin and Melbourne.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-creative-office-building-in-beverly-hills\">A creative office building in Beverly Hills<\/h2>\n\n\n\n<p>Built in 1959, Wilshire &amp; Palm was redeveloped by Cruzan after the firm acquired it in April 2018 for $69.3 million from Manulife Investment Management, according to CommercialEdge data. The seven-story, 110,000-square-foot office building features 6,000 square feet of street-level retail and a total of 202 parking spaces in an underground garage.<\/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\/enhancing-work-environments-through-creative-offices\/\">Enhancing Work Environments Through Creative Offices<\/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>Dennis Cruzan, founding partner of Cruzan, said in a prepared statement Concord was the prototype media tenant they had in mind when they redeveloped the building. The music company&#8217;s penthouse space will consist of indoor\/outdoor workspaces while the sixth floor will feature open workspaces, collaboration areas and listening rooms with hi-tech acoustics.<\/p>\n\n\n\n<p>JLL\u2019s Bryan Dunne and Danny Rainer represented Cruzan. Paul Haskin and Jeff Gerlach of CBRE negotiated on behalf of Concord.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-active-office-market\">Active office market<\/h2>\n\n\n\n<p>The Beverly Hills office market has been active in recent months. In August, e-commerce fashion retail firm <a href=\"https:\/\/www.commercialsearch.com\/news\/tishman-speyer-sells-beverly-hills-office-for-118m\/\">Fashion Nova purchased 407 N. Maple Drive<\/a>, a four-story, 175,000-square-foot office building, from Tishman Speyer in an $118 million all-cash transaction for its global headquarters. Fashion Nova will move its more than 500 employees from its current headquarters in Vernon, Calif., to the Beverly Hills building by the end of the year. <\/p>\n\n\n\n<p>And, in July, the Mateen Brothers bought <a href=\"https:\/\/www.commercialsearch.com\/news\/nuveen-closes-beverly-hills-largest-deal-in-5-years\/\">Wilshire Rodeo Plaza<\/a>, a 300,000-square-foot property with Class A office and retail space, from Nuveen, for $211 million. It was the largest property transaction in Beverly Hills since 2019, according to <em>The\u00a0Wall Street Journal<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The tenant will move to a redeveloped property in Beverly Hills.<\/p>\n","protected":false},"author":1068,"featured_media":1004734373,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,1594,21742,21747,15],"tags":[32789,51477,32796],"class_list":["post-1004734368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-los-angeles","category-latest","category-office","category-west","tag-cbre","tag-cruzan","tag-jll"],"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>Global Music Company Relocates LA Office - 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