SANTA MONICA, CA—Beachbody, a media company known as the direct marketer of fitness videos like P90X and Hip Hop Abs, has signed a 133,000-square-foot lease with Jamestown at the Lantana Entertainment Media Campus. The lease transaction is valued at $90 million.
Beachbody has been a tenant in the building since 2008, when the property was originally constructed. The new lease transaction renews the company's former lease through 2025 and expands it by 41,000 square feet at Lantana South. The lease expansion brings the property to 100% occupancy.
Scott Rigsby and Jim Jacobsen represented the landlord in the transaction, while Tom Turley of JLL represented the Beachbody. They declined to comment on the transaction.
This is one of the first major office leases of 2015, and positions Los Angeles for another stellar year in the office sector. A CBRE report recently revealed that Los Angeles led the Southern California region in office absorption last year with 946,440 square feet for the quarter and 2.7 million square feet for the year. The Westside is leading this trend with 56% of the leases signed last year in the West Los Angeles market.
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