Maguire Properties Signs Lease with The Recording Academy at Lantana Media Entertainment Campus in Santa Monica

Maguire Properties, Inc. (NYSE:MPG), a Southern California real estate investment trust, today announced it has executed a new lease with The Recording Academy for a major new freestanding building at the Company’s Lantana Media Entertainment Campus at 3030 Olympic Blvd. in Santa Monica, CA. The Academy — internationally known for the GRAMMY Awards — will relocate its corporate headquarters in the first quarter of 2009. Arlene Sommer, Executive Managing Director, and Mark Robinson, Corporate Managing Director, of international tenant advisory firm Studley's West Los Angeles office represented The Recording Academy in the transaction. Maguire Properties was represented by Peter Johnston, Senior Vice President, Leasing, and Debbie Tauberg, Leasing Manager. "As The Recording Academy and its mission and outreach have grown over the years, so have our goals and staff," said Neil Portnow, President/CEO of The Recording Academy. "As we look toward the next 50 years, we are excited to relocate our headquarters to this beautiful new facility at Lantana which not only accommodates our growth but provides an appropriate environment for our many important programs and initiatives now and into the future. And we are pleased with the opportunity to remain in our longtime home of Santa Monica." "The Recording Academy's selection of this project as its headquarters solidifies Lantana as the premier West Los Angeles location for popular entertainment industry firms," said Robert F. Maguire III, Chairman and Chief Executive Officer of Maguire Properties. "We are delighted with the addition of The Recording Academy to the stellar roster of tenants who make Lantana home. Santa Monica is the preferred location for the entertainment and media industry and is easily accessible to all major studio lots. Lantana has an excellent reputation and a highly recognizable address in Southern California." Lantana is the premier entertainment (film, television, music and distribution) industry campus in the West Los Angeles submarket. The project is 93% leased to such tenants as Todd-AO Studios, Revolution Studios, IMAX, Larry David Productions, Larry Gordon Productions, Steven Bochco Productions, Dick Clark Productions, BermanBraun Productions and Beacon Pictures. The 12-acre campus is comprised of three original low-rise office and studio production office buildings plus two new office buildings and parking, which brings the total project to nearly 550,000 square feet. The two new buildings were designed by Steven Ehrlich Architects and feature exterior balconies on all floors and fully operable, opening windows that take advantage of the beach climate. Recent tenant additions at Lantana include Genius Products and Product Partners. Genius Products, in partnership with The Weinstein Company, is a home-entertainment distribution company that produces and distributes a library of movies primarily on DVD. Product Partners is the founder of Beachbody, which is considered the top producer and distributor for television and DVD releases of fitness packages. In keeping with The Academy's green initiatives, the interior design team includes Leadership in Energy and Environmental Design (LEED) consultants to ensure that every option for energy conservation and savings will be evaluated. The Academy will work with the existing LEED building attributes to create a facility that is a model for freestanding Santa Monica headquarters properties; the new building is expected to be awarded certification by the United States Green Building Council. A rigorous and thorough process, LEED certification requires buildings to meet the highest standards in several categories related to water efficiency, energy and atmosphere, and indoor air quality among others. The pet-friendly Lantana campus also features lush courtyards, private patios, extensive open spaces and plaza areas with outdoor seating, and tenant and guest amenities such as sand volleyball and basketball courts. Additionally, the project features the popular L.A. Farm restaurant (now known as Divino). About The Recording Academy Established in 1957, The Recording Academy is an organization of musicians, producers, engineers and recording professionals that is dedicated to improving the cultural condition and quality of life for music and its makers. Internationally known for the GRAMMY Awards — the preeminent peer-recognized award for musical excellence and the most credible brand in music — The Recording Academy is responsible for groundbreaking professional development, cultural enrichment, advocacy, education and human services programs. In its 50th year, The Academy continues to focus on its mission of recognizing musical excellence, advocating for the well-being of music makers and ensuring music remains an indelible part of our culture. For more information about The Academy, please visit www.grammy.com. About Maguire Properties, Inc. Maguire Properties, Inc. is the largest owner and operator of Class A office properties in the Los Angeles central business district and is primarily focused on owning and operating high-quality office properties in the Southern California market. Maguire Properties, Inc. is a full-service real estate company with substantial in-house expertise and resources in property management, marketing, leasing, acquisitions, development and financing. For more information on Maguire Properties, visit the Company’s Web site at www.maguireproperties.com. About Studley Studley is the leading commercial real estate services firm specializing in tenant representation. Founded in 1954, Studley pioneered the conflict-free business model of representing only tenants in their commercial real estate transactions. Today, with 19 offices nationwide and an international presence through its London office and AOS Studley, a partnership with Paris-based AOS, Studley provides strategic real estate solutions to top-tier corporations, not-for-profit organizations and law firms. Information about Studley is available at www.studley.com.