The properties, which have served as WMA's worldwide headquarters for years, are in the Beverly Hills Golden Triangle, known for its top-tier office buildings and shopping districts. Renard observes that, with a direct office vacancy rate of only 2.9% and "extraordinary barriers to new construction" as well as strong future rent growth potential, "Beverly Hills properties are highly sought-after by domestic and foreign capital." He expects that the buildings "will generate tremendous investor interest."

WMA, which is committed to remaining in Beverly Hills, plans to move more than 500 employees into new premises on Beverly Drive within the next few years. WMA has hired architectural and design firm Gensler to develop the new headquarters, which will be a green building with recycled materials and energy-efficient water and lighting systems. It will feature more than 175,000 sf of office space and 30,000 sf of retail space and restaurants at its base.

Irv Weintraub, WMA chief operating officer, comments that, "With the increased interest in our property, we have decided to explore our potential options," for the Beverly Hills buildings. "We will continue to own and manage our assets unless we find an agreement that is beneficial to all parties involved," Weintraub adds.

In addition to its Beverly Hills headquarters, WMA maintains principal offices in New York City, Nashville, London, Miami Beach and Shanghai. The agency represents clients in all segments of theentertainment industry, book publishing, sports marketing, corporate consulting, digital media and video games.