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| Clock Tower office building, 225 Santa Monica Boulevard Santa Monica, CA |
Los Angeles, CA – Avison Young, the world’s fastest-growing
commercial real estate services firm, announced today that it has completed a
five-year office lease valued at $1.35 million with GumGum, Inc., an
image-based advertising firm.
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| Randy Starr |
GumGum will occupy 4,390 square feet (sf) on the sixth floor
of the historic Clock Tower building at 225 Santa Monica Blvd. in Santa
Monica, CA.
Avison Young
Principal Randy Starr, based in the company’s Santa Monica office,
represented GumGum in the transaction. Michael Preiss of rsfLA, Inc.
represented the building’s owner, Sorgente Group of America Corp.
“I showed my client
every available office location in Santa Monica,” comments Starr. “The Clock
Tower is one of the most desired, creative-space addresses for technology and
entertainment businesses within Silicon Beach. This prestigious space will help
GumGum attract and retain some of the area’s best talent.”
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| Michael Preiss |
Starr adds: “This
transaction with GumGum marks the first new tenant to sign a lease at the
property since Sorgente Group acquired it in April of this year.”
Built in 1929, the
12-story Clock Tower is Santa Monica’s second-tallest building. The landmark
property offers tenants unobstructed ocean views and was recently fully
restored while maintaining its art deco architectural style. Other building
tenants include: TrueCar, Inc., LivingSocial, Inc. and Gerber Group.
GumGum will be
relocating and expanding from its current Santa Monica location at 1207 4th
Street where it occupies 2,400 sf. The firm anticipates occupying its new space
in January 2014.
Founded in 2007,
GumGum invented the image-based advertising category and has grown to become
the largest premium in-image advertising platform for publishers and brands.
GumGum is headquartered in Santa Monica and has offices in New York, Chicago,
San Francisco and Detroit.
For a complete
copy of the company’s news release, please contact:
Darcie Giacchetto
D.G. Communications, Inc.
949.278.6224
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