WOODLAND HILLS, CA—Universal Music Group hascompleted a lease transaction with Hines for a146,636-square-foot office space at the LNR WarnerCenter, a seven-building office campuslocated at 21301 Burbank Blvd. This is the largest new office leasecompleted in the San Fernando Valley so far this year.

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Universal Music Group will occupy the top four floors of thefive-story building. The company is relocating from two offices inWoodland Hills, CA. It additionally has an office in Santa Monicathat will not be affected. UMG was attracted to the propertybecause of the high-quality building with ample amenities and thedynamic surrounding neighborhood, which the company and itsemployees know well. The music company will take occupancy of thenew space on February 1, 2015.

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CBRE's Paul Stockwell,Josh Leibowitz and Jeremy Charlesrepresented the tenant in the transaction, while Hines handled itsown representation, led by Todd Later andEric Lyon.

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This is not the first lease to break records in the San FernandoValley this week. CBRE's industrial team completed the Valley'slargest industrial lease of the past 12 monthswhen Ricon Corp. moved its headquarters offices to a newlocation in the San Fernando BusinessCenter. The company, known as the largest provider oftransit-oriented technology, signed a 65,347-square-foot lease, aconsolidation of its former Panorama City, CA, headquarters.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.