D
rawbridge Realty has acquired Universal Music Group's Santa Monica headquarters office for $185 million. The San Francisco-based company purchased the 225,773-square-foot building from New York-based Clarion Partners, representing a price of approximately $819 per square foot. Drawbridge represented itself in the deal, while Newmark's Kevin Shannon and team represented the seller.

    The Class A property at 2220 Colorado Avenue is fully occupied by Universal Music Group, which has a lease until July 2036. The building features six stories, two recording studios, conference areas, parking, an on-site cafeteria, and outdoor workspaces. Located near other major media and entertainment companies, the property is situated in a prime area for industry professionals.

    This deal marks Drawbridge's first acquisition on Los Angeles' Westside, with its existing portfolio consisting of over a dozen properties across various markets. The Santa Monica office market had an overall vacancy rate of 21.3 percent, with average asking rents of $6.01 per square foot in the second quarter, according to CBRE data.