Lee & Associates Home > About > Media >

THE LIONSTONE GROUP ACQUIRES 12-ACRE LANTANA ENTERTAINMENT MEDIA CAMPUS IN SANTA MONICA

Lee & Associates\West LA assumes brokerage and renovation duties of creative campus

 The Lionstone Group, a Houston-based private real estate investment firm, has purchased the Lantana Entertainment Media Campus in Santa Monica, Calif. from Maguire Properties.

The landmark 463,000-square-foot studio production and creative office property comprises four buildings on a 12-acre site.  Lantana is one of the largest entertainment properties on Los Angeles’ Westside, and is currently home to such entertainment industry heavyweights as IMAX Corporation, NBC Universal Television, Dick Clark Productions and Revolution Studios.

Tom Bacon, founding partner of The Lionstone Group believes the acquisition is not only a strategic move, but also underlines Lionstone’s commitment to the entertainment and real estate communities, as well as its ongoing green design and innovation initiatives.

 “We are confident in the recovery of the West Los Angeles-Santa Monica sub-market, and Lionstone’s purchase of Lantana Center further demonstrates our confidence,” said Bacon.  “At Lionstone, preserving the authenticity and unique character of each property is a priority, and we plan to continue to evolve our portfolio and amenities to deliver a strategic mix of adaptive reuse, LEED^® Certified, and architecturally creative properties.”

            Lionstone purchased the Lantana Campus as part of Lionstone Urban Investments Two, a $400 million fund that acquires real estate assets in high-amenity urban areas.  The addition of Lantana increases Lionstone’s West Los Angeles position to over one million square feet of creative and adaptive reuse properties, and represents its sixth property along Santa Monica’s media and tech corridor.

 Lee & Associates\West Los Angeles in Santa Monica, which assisted in the transaction, is Lionstone’s West Los Angeles consultant and will assume brokerage responsibilities for the property.  Jim Jacobsen, Lee\West LA co-president and long-time Lionstone strategic partner, will oversee management of the Lantana campus, including brokerage, renovations and completion of LEED^® Certification efforts.  

            “Market rates in the West Los Angeles and Santa Monica entertainment and media district have stabilized, with positive third and fourth quarter absorption.” said Jacobsen.  “With more than 600,000 square feet in new deals and renewals in the fourth quarter alone, it is clear that the remaining availability at Lantana will meet with a positive market response”

            Lionstone’s active ownership of the campus will continue to build on the market-leading tenant experience at Lantana.

 “We are committed to insuring that Lantana retains its status as the premier address for entertainment and creative firms on Los Angeles’ Westside,” concluded Bacon.

Back to Press Releases