MUMBAI: Almost a week after coming out from bankruptcy, MGM has decided to have a new headquarter in Beverly Hills.
The studio signed a lease last Sunday for the six-story, 144,000-square-foot Beverly Drive office building that was to be occupied by WME. The new Beverly Drive building, which was completed earlier this year, has had a brief but tumultuous history. Originally, it was to be occupied by the William Morris Agency, but the firm‘s 2009 merger with Endeavor threw a kink into those plans.
The studio will vacate its current headquarters the MGM Tower in Century City. The company had leased around 200,000 square feet at the 35-storey building and had been trying to sublease the offices to other parties, but that plan never came to fruition.
In order to break its lease and leave the 10250 Constellation Blvd. building, the studio will pay a ‘one-time‘ fee to landlord JMB Realty Corp., it is understood.
