SANTA MONICA,CA-Image-based advertising firm GumGum has signed a five-year lease with Sorgente Group of America Corp. for a 4,390-sqaure-foot space on the sixth floor of Santa Monica's historic Clock Tower building, located at 225 Santa Monica Blvd. The lease is valued at $1.35 million. GumGum is the first new tenant in the building since Sorgente Group acquired it in April 2013.

Due to an expansion, GumGum is moving from its current location, a 2,400-square-foot space at 1207 4th St. in Santa Monica. The company will move into the Clock Tower in January 2014.

Randy Starr, Avision Young principal, represented the GumGum while Michael Preiss of rsfLA Inc. represented the landlord. According to Starr, who showed GumGum “every available office location in Santa Monica,” the Clock Tower is an ideal office location for GumGum because it provides creative office space conducive to the advertising firm's collaborative needs.

“The Clock Tower is one of the most desired, creative-space addresses for technology and entertainment businesses within Silicon Beach,” says Starr. “This prestigious space will help GumGum attract and retain some of the area's best talent.”

The Clock Tower is considered a Santa Monica landmark. It was built in 1929 in an art deco architectural style, and, at 12 stories, is the city's second tallest building. Sorgente Group recently renovated and updated the building after purchasing it earlier this year. TrueCar Inc., LivingSocial and Gerber Group also lease office space in the building.

Avision Young has been busy negotiating lease transactions in the Santa Monica market. In an earlier story reported on GlobeSt.com, the firm facilitated a record-breaking lease at the nearby Santa Monica Promenade with It'Sugar for a 2,240-square foot space. That lease was valued at $6.2 million.

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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.

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