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CBRE Report: Video Games Poised for Prime Time

Esports, the term for competitive video gaming, will increasingly impact office and broadcast studio space in the Greater Los Angeles region, according to research by CBRE. In fact, the industry already has a sizeable footprint in SoCal.

Blizzard Entertainment built out a 60,000-square-foot broadcast studio in Burbank this year. Riot Games, which developed the top game title in the world, “League of Legends,” occupies nearly 500,000 square feet in West L.A. for offices and studios. ESL Gaming doubled the size of its Burbank office to 25,000 square feet in 2015. In addition, Warner Bros. acquired Machinima, an online video broadcaster, and integrated it with its Burbank-based Interactive Entertainment division in 2015.

Investments in esports by game studios, league operators and team owners will continue to fuel demand for real estate, predicts CBRE researcher Petra Durnin. Industry growth will also spread into ancillary businesses such as game console and controller manufacturers, virtual reality technology, training facilities and broadcast studios.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

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