It’s official: Spotify hits play on its move to the Arts District
Streaming service will lease 110,000 square feet in At Meteo
Spotify, the music streaming service giant, is officially moving to the Arts District.
The firm signed a 10-year lease to occupy 110,000 square feet in At Mateo, the mixed-use complex, a source confirmed to The Real Deal on Tuesday. TRD first reported the deal in January.
The move represents a major expansion for the Swedish tech company, which currently leases an 8,200-square-foot space at 9200 Sunset Boulevard in West Hollywood.
Located at 555 Mateo Street, the $80 million retail and office complex was developed by a joint venture between Blatteis & Schnur and ASB Real Estate Investments. Tenants at the site include Soylent, a meal-replacement company, and the University of Southern California’s design school.
Girl & the Goat, a Chicago-based restaurant created by “Iron Chef” winner Stephanie Izard, also signed a 7,000-square-foot lease at the property. It’s slated to open sometime next year.
Pete Collins, Mike Condon Jr., Andrew Tashjian and Kelli Snyder of Cushman & Wakefield represented the developers. Tony Morales, Maureen Hawley and Jaclyn Ward at JLL represented Spotify.
Spotify’s commitment to the Arts District follows a move from Warner Music Group, which inked a deal to occupy the entire Shorenstein-renovated Ford Factory. Although delayed, the company is planning to move from Burbank to the 257,000-square-foot space at 777 S. Santa Fe Avenue.