LOS ANGELES-Video Game publisher Riot Games Inc. has signed a 15-year lease for the full Element LA creative campus currently under construction in West Los Angeles. The lease totals 284,000-square-feet, and is said to be the largest office lease in Southern California in the last five years. Although the terms of the lease were undisclosed, industry sources estimate a monthly rent of $3.75 per square foot.

Riot Games, creator of the ever-popular League of Legends video game, will consolidate 1,000 employees into the new space, which are currently spread in multiple locations throughout Santa Monica. The company additionally has plans to expand at the new location, adding an additional 500 employees.

Element LA is a $150 million creative campus office development from Hudson Properties Inc., and is currently under construction with an expected completion in 2015. Set on 12 acres, the property has five buildings, including a 167,000-square-foot building at the campus' center with industrial windows and skylights. The property has a five-story parking garage, and an Expo Line light rail stop is under construction across the street.

Allen Matkins' Eric Shelby and Tony Natsis represented the property landlord, Hudson Properties Inc.. Advisors LLP's Jordan Fishman and Rob Plotkowski served as legal counsal for Riot Games and Matthew Miller of CRESA and Brad Gross and Bruce Hoffman of DTZ represented Riot Games in the transaction.

Creative office in West Los Angeles is experiencing lower vacancy rates than traditional spaces. Recent third quarter reports from Industry Partners and Studley both showed Westside creative office having the strongest activity in the office sector, with a 10.6% vacancy rate while the West Los Angeles area for traditional office has a vacancy rate of 14%, according to the reports.

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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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