Video game developer Riot Games is set to sublease space at Lantana Entertainment Media Campus in Santa Monica.
The company, best known for its smash hit “League of Legends,” is taking over what appears to be the Beachbody Company’s entire 131,000-square-foot footprint at the property, according to the Commercial Observer.
Riot Games’ new landlord will be Starwood Capital Group, which purchased two buildings at Lantana Entertainment Media Campus — leased by Beachbody and Tennis Channel — in 2019.
The complex’s former owners Artisan Realty Advisors and Brightstone Capital Partners sold a larger chunk of the campus to Skydance Media earlier that year for $320 million. Starwood’s portion of Lantana totals about 203,700 square feet.
The Beachbody Company had expanded its footprint at Lantana from about 92,000 square feet to 131,000 with a 10-year lease deal in 2015.
The company went public with a SPAC merger in June and reported a $12.4 million loss in the second quarter of this year, which it blamed on an increase in operating expenses, according to Seeking Alpha.
Fellow video game publisher and developer Activision Publishing also signed a sublease deal in Santa Monica this week. The Activision Blizzard-owned company took 90,000 square feet from Kite Pharma at the Pen Factory complex.
[CO] — Dennis Lynch