Spotify’s Daniel Ek and rendering of At Mateo at 555 Mateo Street (Credit: Wikimedia Commons, At Mateo)
Spotify, the music streaming service giant, is officially moving to the Arts District.
The firm signed a 10-year lease to occupy 110,000 square feet in At Mateo, the mixed-use complex, a source confirmed to The Real Deal on Tuesday. TRD first reported the deal in January.
The move represents a major expansion for the Swedish tech company, which currently leases an 8,200-square-foot space at 9200 Sunset Boulevard in West Hollywood.
Located at 555 Mateo Street, the $80 million retail and office complex was developed by a joint venture between Blatteis & Schnur and ASB Real Estate Investments. Tenants at the site include Soylent, a meal-replacement company, and the University of Southern California’s design school.
Girl & the Goat, a Chicago-based restaurant created by “Iron Chef” winner Stephanie Izard, also signed a 7,000-square-foot lease at the property. It’s slated to open sometime next year.
Pete Collins, Mike Condon Jr., Andrew Tashjian and Kelli Snyder of Cushman & Wakefield represented the developers. Tony Morales, Maureen Hawley and Jaclyn Ward at JLL represented Spotify.
Spotify’s commitment to the Arts District follows a move from Warner Music Group, which inked a deal to occupy the entire Shorenstein-renovated Ford Factory. Although delayed, the company is planning to move from Burbank to the 257,000-square-foot space at 777 S. Santa Fe Avenue.
Powered by WPeMatico