Newmark Grubb Knight Frank (NGKF) has completed a 20,000-square-foot office lease with Upload, Inc. in Marina Del Rey, CA. The lease, valued at $8.25 million is for a term of seven years and two months. The space is located at 4505 Glencoe Avenue, a 45,000-square-foot office building that recently underwent a major renovation to provide a premium creative office environment. The property is located within the 350,000-square-foot Marina Business Center I Campus which includes other notable tenants such as Sony, DISC, and Thrive Market.
Senior Managing Director Chris Strickfaden of NGKF and Scott Dobbins, President of Hankey Investments represented the landlord, Marina Business Center, LLC, in the transaction. The tenant, Upload, Inc., was represented by Jeff Pion and Carter Haslam of CBRE.
With this new lease, San Francisco-based Upload, Inc, a company involved in all aspects of the virtual and augmented reality (AR/VR) industry, is expanding into the Southern California market. The space will house approximately 100 employees and will be used as virtual reality co-working space. Move-in is occurring this month. The space offers 24’ ceilings with mezzanine, polished concrete floors, open floor plan, outdoor meeting areas, ample parking and building top signage visible from the adjacent 90 Freeway.
Marina Business Center I is comprised of a 125,000-square-foot mixed-use office building at the corner of Mindanao and Glencoe (across from Famous Jerry’s Deli) as well as six adjacent flex creative spaces in three separate buildings located at 4499, 4501, 4505 Glencoe, and 4503-4509 Glencoe.
“4505 Glencoe generated a strong amount of user interest as it offers all the elements creative users are looking for to enhance its corporate brand,” said Strickfaden. “Marina Business Center I is now almost fully occupied with one more speculative creative space coming on line soon for 25,000 square feet at 4501 Glencoe.”
Upload, Inc. is involved in all aspects of the (AR/VR) industry. This includes coworking, startup incubation, education (from beginner to expert curriculum), and media. Upload’s expansion to LA will bring unprecedented access to virtual reality equipment and resources that will usher in new talent and creative ventures.
About Upload, Inc.
Upload, Inc. is a multi-faceted organization focused on accelerating the growth of the augmented reality/ virtual reality (AR/VR) industry. We are passionate about fostering a community that will bring immersive technology to life in a way that creates a positive impact. The three core domains of the business are co-working, skills training and media. The SF Collective is a hybrid coworking and incubation space, which also hosts courses immersive tech skills and corporate training. The editorial site offers the latest industry news on all things happening in the global VR/AR ecosystem. Upload is fully ingrained in the immersive technology industry since May 2014, driving it forward through an inclusive community-oriented approach.
About Newmark Grubb Knight Frank
Newmark Grubb Knight Frank (NGKF) is one of the world’s leading commercial real estate advisory firms. Together with London-based partner Knight Frank and independently-owned offices, NGKF’s 14,100 professionals operate from more than 400 offices in established and emerging property markets on six continents.
With roots dating back to 1929, NGKF’s strong foundation makes it one of the most trusted names in commercial real estate. NGKF’s full-service platform comprises BGC’s real estate services segment, offering commercial real estate tenants, landlords, investors and developers a wide range of services including leasing; capital markets services, including investment sales, debt placement, appraisal, and valuation services; commercial mortgage brokerage services; as well as corporate advisory services, consulting, project and development management, and property and corporate facilities management services. For further information, visit www.ngkf.com.
NGKF is a part of BGC Partners, Inc., a leading global brokerage company servicing the financial and real estate markets. BGC’s common stock trades on the NASDAQ Global Select Market under the ticker symbol (NASDAQ: BGCP). BGC also has an outstanding bond issuance of Senior Notes due June 15, 2042, which trade on the New York Stock Exchange under the symbol (NYSE: BGCA). BGC Partners is led by Chairman and Chief Executive Officer Howard W. Lutnick. For more information, please visit http://www.bgcpartners.com/.