X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

BEVERLY HILLS, CA-The William Morris Agency has gone to market with three trophy buildings totaling approximately 185,000 sf of space at 150 S. Rodeo Dr. and 150-151 S. El Camino Dr. Cushman & Wakefield’s Marc Renard, Steve Algermissen and Eric Duncanson will market the properties on behalf of the talent and literary agency, in cooperation with Neil Resnick from Grubb & Ellis.

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.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.