|Corporate Pointe, Culver City, CA|
Wednesday, February 22, 2017
Olive Hill Group Brings Asset in Growing Silicon Beach Submaket to Nearly 100-Percent Occupancy with Global Digital Media Company
LOS ANGELES, CA (Feb. 21, 2017) – Olive Hill Group, a private investor, operator and developer of commercial real estate, has leased half of the fifth floor of its creative office campus in Culver City to Omnia Media, a subsidiary of the international Canadian media company Blue Ant Media, Inc.
The office complex is located at 300 Corporate Pointe in Culver City, California.
Omnia Media will lease 9,762 square feet on the 5th floor of the building. Matt Brainard at Savills Studley represented the tenant, Omnia Media, while Joe King and Matt Sprowles at Madison Partners represented the landlord, Olive Hill Group.
Omnia Media, one of the world’s largest digital content producers and distributors that helps global brands maximize the power of online videos, has outgrown its existing space and will relocate to 300 Corporate Pointe, bringing the asset to 95 percent occupancy.
“Culver City is the next creative growth hub of Silicon Beach,” says Michael Cho, President of Olive Hill Group. “It has attracted a significant number of players in the digital media, entertainment, and technology industries, marking its emergence as one of the most dynamic creative markets in the entire southern California region.”
Cho notes that this new lease is indicative of a larger trend as creative tenants migrate to the Playa Vista neighborhood of Silicon Beach where entertainment giants such as YouTube, Netflix, and Buzzfeed have taken up residence.
“Tenants such as Omnia Media are flocking to Silicon Beach to be at the epicenter of the digital entertainment action,” explains Cho. “Our ability to secure a lease of this caliber is a testament to the quality of this asset, as well as to the growth of this market.”
According to Tim Lee, Olive Hill’s Vice President of Corporate Development and Legal Affairs, this new lease reflects the firm’s strategy of capitalizing on the growing demand for creative office by providing environments that foster innovation and collaboration.
“The office building’s flexible outdoor workspace, easy accessibility in a low-rise setting, and creative buildouts make this the perfect location for a number of creative tenants seeking a value-oriented alternative to office space in neighboring Venice and Santa Monica,” continues Lee.
“By providing innovative workspaces that will attract businesses in the tech, media, and digital entertainment industries, we are cultivating an ecosystem of creative tenants that will drive long-term value for the asset.”
Along with Omnia Media, the office campus’ tenant mix includes DataScience Inc. and Ipsos Insight, a global market research and consulting firm.
For a complete copy of the company’s news release, please contact:
Katie Kea / Lexi Astfalk
Brower, Miller & Cole
Posted by Alex at 11:51 AM