(LOS ANGELES) – Hines, the international real estate firm, along with Philena Properties and USAA Real Estate, announced today that video game developer, publisher and esports tournament organizer, Riot Games, has signed a 10-year lease for all 200,000 square feet of available office space at West Edge, a transit-oriented, mixed-use development in West Los Angeles.
Designed by Gensler, AC Martin and Rios, West Edge will be the preeminent live, work, play destination in West Los Angeles. Office amenities include private landscaped terraces over five floors, easy access to the new Expo Line station, and new sustainability features to enhance employee wellness. In addition to the office space amenities, West Edge will offer 600 luxury apartments, Gelson’s, one of California’s premier full-service specialty grocers, up to eight restaurants, a vibrant one-half-acre open-air plaza with al fresco dining, boutique retail and studio fitness options. The office building is registered to be LEED® Gold and WiredScore Platinum and will pursue WELL Core & Shell Gold Certification.
“We’re elated to welcome Riot Games to West Edge as an office tenant,” said Varun Akula, managing director at Hines. “Riot has been a pillar of the West LA creative gaming community since their inception and as one of the most dynamic tech and gaming companies in LA, Riot will be a welcome addition to the development.”
“As Riot has continued to grow across games, esports and entertainment, providing world-class workplaces to the Rioters who make it all possible has become more important than ever,” said Dylan Jadeja, president of Riot Games. “With West Edge, we’re adding a significant new hub to our West Los Angeles campus. The space, amenities, and facilities at West Edge will help provide the environment we need to create amazing experiences for players.”
Construction on the development began in January 2020, and in September 2021, West Edge celebrated the topping out of the residential building. The development reached another milestone this November with the topping out of its office and retail component, less than two years after the start of construction.
In June, Gelson’s signed a long-term lease to become the retail anchor tenant at the development. Additional retail, restaurant, and fitness tenants will be announced in 2022. West Edge’s grand opening is slated for Q1 2023.
Hines is a privately owned global real estate investment firm founded in 1957 with a presence in 255 cities in 27 countries. Hines oversees investment assets under management totaling approximately $83.6 billion¹. In addition, Hines provides third-party property-level services to more than 367 properties totaling 138.3 million square feet. Historically, Hines has developed, redeveloped or acquired approximately 1,486 properties, totaling over 492 million square feet. The firm currently has more than 171 developments underway around the world. With extensive experience in investments across the risk spectrum and all property types, and a foundational commitment to ESG, Hines is one of the largest and most-respected real estate organizations in the world. Visit www.hines.com for more information.
¹Includes both the global Hines organization as well as RIA AUM as of June 30, 2021.
About Riot Games
Riot Games was founded in 2006 to develop, publish, and support the most player-focused games in the world. In 2009, Riot released its debut title, League of Legends, to worldwide acclaim. League has gone on to be the most-played PC game in the world and a key driver of the explosive growth of esports. As League enters its second decade, Riot continues to evolve the game while delivering new experiences to players with VALORANT, Teamfight Tactics, Legends of Runeterra, League of Legends: Wild Rift, and multiple work-in-progress titles. Riot is also expanding the world of Runeterra through multimedia projects across music, comic books, board games, and the animated series Arcane. Founded by Brandon Beck and Marc Merrill, and led by CEO Nicolo Laurent, Riot is headquartered in Los Angeles, California, and has 3,000+ Rioters in 20+ offices worldwide. Visit www.riotgames.com.
About USAA Real Estate
With approximately $30 billion of Assets Under Management and 11 global offices, USAA Real Estate is an industry leader in acquiring, developing, financing and managing the highest quality real estate assets in North America and Europe. The mission of USAA Real Estate is to serve the financial interests of its investment clients by strengthening the profitability and diversity of the USAA investment portfolio, which includes multifamily, industrial, office and hotel properties as well as e-commerce logistics and distribution centers, media production facilities and data centers. For more information, visit www.usrealco.com.