Business & Tech

$65 Million Loan for 12-Acre Element L.A. Office Complex Approved

Riot Games will be a tenant.

By City News Service

A $65 million construction loan for the 12-acre Element L.A. office complex in West Los Angeles was approved, and an online video game producer will be one of its tenants, it was announced Thursday.

"Creative office space is growing in Los Angeles," according to Adrian Metter, market manager for U.S. Bank Commercial Real Estate in Los Angeles. "Element L.A. fits perfectly with the surrounding area and accommodates the demand from technology, media and creative industries for this type of commercial space."

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The developer is Hudson Pacific Properties, which is renovating the five existing buildings at 1861, 1901, 1925, and 1933 S. Bundy Drive and 12333 W. Olympic Blvd. The offices will feature high, wood bow truss ceilings, sawtooth skylights, industrial windows, open space, patios, a bike shop, cafe and a parking garage.

Mayor Eric Garcetti announced that Riot Games, an online video game developer, will occupy 280,000 square feet at the complex, moving from its home in Santa Monica.

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"Our economy is my top priority and the tech industry generates thousands of jobs in Los Angeles," Garcetti said. "I have been working closely with Riot's founders Brandon Beck and Marc Merrill, and my business team will continue to work with them to ensure a smooth transition."

Garcetti said the company would bring 1,000 "high-skill" jobs to the area, "within walking distance of the Expo Line."

According to the mayor's office, Riot Games publishes the online game "League of Legends," with an estimated 32 million players per month.


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