WOODLAND HILLS, CA—Universal Music Group has completed a lease transaction with Hines for a 146,636-square-foot office space at the LNR Warner Center, a seven-building office campus located at 21301 Burbank Blvd. This is the largest new office lease completed in the San Fernando Valley so far this year.

Universal Music Group will occupy the top four floors of the five-story building. The company is relocating from two offices in Woodland Hills, CA. It additionally has an office in Santa Monica that will not be affected. UMG was attracted to the property because of the high-quality building with ample amenities and the dynamic surrounding neighborhood, which the company and its employees know well. The music company will take occupancy of the new space on February 1, 2015.

CBRE's Paul Stockwell, Josh Leibowitz and Jeremy Charles represented the tenant in the transaction, while Hines handled its own representation, led by Todd Later and Eric Lyon.

This is not the first lease to break records in the San Fernando Valley this week. CBRE's industrial team completed the Valley's largest industrial lease of the past 12 months when Ricon Corp. moved its headquarters offices to a new location in the San Fernando Business Center. The company, known as the largest provider of transit-oriented technology, signed a 65,347-square-foot lease, a consolidation of its former Panorama City, CA, headquarters.