Event promoter Live Nation Entertainment is leasing nearly all of Worthe Real Estate Group’s under-construction office development in Beverly Hills.
The 11-year lease is for 95,000 square feet at 325 Maple Drive, according to the Los Angeles Business Journal. The former post office building will have 105,000 square feet of leasable space, including some retail space, when it is completed.
The building is in the creative office style, with a large open floor plan, lounge areas, and an atrium. Invesco is also a partner on the project. Gensler designed the building.
Live Nation is one of the world’s largest concert promotion companies, with $3.8 billion in revenue in the third quarter of 2018 alone, according to Seeking Alpha.
Live Nation is headquartered at UTA Plaza and the Ice House, an office campus in Beverly Hills owned by Rockefeller Group Investment Management. It’s unclear whether Live Nation will remain there.
Worthe announced in September it was partnering with San Francisco-based co-living startup Starcity to renovate commercial buildings into residential buildings. The first will be 29 Navy Street in Venice. [LABJ] — Dennis Lynch