Google has inked a deal with the city of Beverly Hills to open a 13,465-square-foot office for the company’s entertainment division in a city-owned property in an effort to its Southern California expansion.
According to a source with knowledge of the deal, the office will house YouTube staffers in addition to Google employees.
The location is at 331 Foothill Rd, Beverly Hills and the move is expected by the end of the year. The lease deal is for 11-years and valued at $6.3 million.
Film and television production company Participant Media and Beverly Hills’ cable station are both tenants at the Foothill Road building. The property is located in a former industrial section of Beverly Hills that the city is promting as an entertainment business district. AOL, Netflix, Live Nation and independent film production company Lakeshore Entertainment also maintain offices in the area, which is just east of Beverly Hills City Hall.
The 11-year lease agreement, which is valued at $6.3 million, was approved by Beverly Hills City Council on Tuesday. It’s expected that the Google will move into the building at 331 Foothill Rd. by the end of the year, once improvements to the office space are completed.
Google declined to comment and its broker, Jeff Pion of CB Richard Ellis Group, could not immediately be reached for comment.
[Source: Hollywood Reporter]