On May 19, 2022, the Company purchased a parcel of land at Sunset Gower Studios that was previously encumbered by a ground lease for a total purchase price of $22.0 million, before certain credits . Hudson Pacific and Blackstone aren't the . When Sunset Glenoaks is complete, Hudson Pacific and Blackstones Sunset Studios brand will have 42 soundstages, and the owners said they are pursuing other expansion opportunities in Los Angeles, New York, London and Vancouver, Canada. 2021. The operator of Sunset Studios, Hudson Pacific Properties, has acquired Quixote Studios for $360 million, significantly expanding its footprint in the soundstage business. This Week's LA Deal Sheet. Tendrs a tu disposicin albercas privadas, wifi y estacionamiento. That project will finally move forward under the ownership of one of the region's biggest owners and developers of production facilities. Construction of Sunset Glenoaks Studios is slated to begin this year. RBC is one of many institutional lenders cashing in on studio development. Victor Coleman, chairman-CEO of Hudson Pacific called Sunset Glenoaks a perfect example of our long-term strategy with Blackstone to buy and transform existing facilities and to build new, state-of-the-art studios within Los Angeles and other high-priority production markets weve identified for expansion.. But HPP and Blackstone could have more competition in a few years. Hudson Pacific Properties reported in its fourth-quarter results last week that it secured a $94 million construction loan for a portion of the Sunset Glenoaks studio development with Blackstone. 2 Bd, 1 Ba 1 Half Ba. Two story completely remodeled. This field is for validation purposes and should be left unchanged. Sunset Glenoaks Studios will be a new complex on 10 acres on Peoria Street in an industrial district of Sun Valley near Glenoaks Boulevard. Seven film . The film . Hudson Pacific On Path to Develop Seven West Coast Studio and. In November 2004, Sunset Gower Studios was purchased by GI Partners for an estimated $105 million, and in 2006 began construction on a six-story building for Technicolor SA. With about 240,000 square feet across more than 10 acres, the new . Soundstages are one of the hottest categories in commercial real estate as entertainment production keeps rising. By executing on our vision to deliver high-quality sound stages alongside a robust array of production services, we've created a premier, streamlined solution for today's leading media companies. Earlier this year, Hudson Pacific and Blackstone unveiled plans to develop Sunset Glenoaks Studios to take advantage of the growing market for soundstages. Sept. 1, 2022 11:12 AM PT. Other sizable studio projects have already been announced in Los Angeles, including the $450 million Echelon Studios project in Hollywood and the $1.25 billion renovation of Television City in the Fairfax District. To view the purposes they believe they have legitimate interest for, or to object to this data processing use the vendor list link below. A rendering shows a planned movie studio, Sunset Glenoaks Studios, in the Sun Valley neighborhood of Los Angeles. Other proposed ground-up studio developments in the Los Angeles area include Echelon Studios, a $450-million project planned by Bain Capital Real Estate and BARDAS Investment Group in Hollywood, the $1.25-billion Television City 2050 plan, and a $650-million complex proposed for the L.A. Times Printing Plant site in Downtown. Two bedrooms 1 and 1/2 bath townhome for lease in desirable N/W Glendale above Glenoaks. As the demand for content continues to expand, we are well positioned to benefit in the coming years.. All dimensions are approximate. 1. (W)e do not believe that the project being entitled prior to the legislations signing would preclude Sunset Glenoaks tenants from benefiting from these new tax credits, said Jeff Stotland, senior vice president of global studios at Hudson Pacific, in a written response. Hudson Pacific Properties and Blackstone have scored a $94 million construction loan to build a portion of their planned studio development in the San Fernando Valley. Sunset Studios has played a critical role in Hollywood for over 100 years. . Hudson Pacific and Blackstone are adding a fourth project to their Sunset Studios family, unveiling plans to build Sunset Glenoaks Studios amid a booming development market for sound stages. , president of Hudson, said during the quarterly earnings call that the firm expects Sunset Glenoaks to generate approximately $15 million of new annual income once its operational. Start your search today. Drop us a Note: Developer Plans Larger Version Of 900-Plus-Unit Project Along L.A. State Historic Park, Kaiser Permanentes East Hollywood Expansion Design Takes Shape, Kitchen United Mix is Now Open in Santa Monica. Tenants at the studio properties include Netflix, which leases two Hudson Pacific-owned office buildings in Hollywood. The Times may extend its lease there into the 2030s. Bardas Investment Group in May announced plans to build a 350,000-square-foot soundstage-and-office complex in Hollywood. The year-ago loss was mostly attributed to a jump in operating expenses and costs associated with several major acquisitions. Hudson Pacific has been at the forefront of Hollywood's renaissance for more than a decade. The 10-acre site in the Valley, now named Sunset . All Rights Reserved. Construction is expected to be completed in the third quarter of 2023 at a cost of $170-$190 million. We do not sell and will not sell any personal information. The project will cost as much as $190 million, and work is set to begin this year. $4,200/mo. LEARN MORE. Sunset Studios. It will have seven soundstages, offices and other production facilities on 10 acres. 2021 Sunset Glenoaks Studios. One of the "World's most romantic hotels". It will cover 240,000 square feet on over 10 acres with seven sound stages. In 2017, developer Hudson Pacific Properties submitted plans providing details of its new vision for Hollywood's landmark Sunset Gower Studios. The studios are located at 5800 Sunset Boulevard, 1438 N Gower Street, and 1040 N Las Palmas Avenue, respectively. 2. 7083 Hollywood Blvd, 2nd Floor, Los Angeles, CA 90028 Phone: 212-260-1332 Sunset Glenoaks is being planned by Hudson Pacific and its partner Blackstone. It would be called Echelon Studios and would replace a long-closed Sears store and parking lot on Santa Monica Boulevard west of the 101 Freeway. Line 204, a company that owns soundstages in Pacoima and Hollywood, first proposed building the studio in 2014 on the site near the corner of Glenoaks Boulevard and Peoria Street in Sun Valley. ALL RIGHTS RESERVED. Los Angeles real estate developer David Simon intends to build a new $450-million independent studio in Hollywood with five soundstages and support facilities including offices and bungalows for entertainment creators. The facility will also include . Hudson Pacific announced the deal in a quarterly earnings release on Wednesday, but did not disclose the lender. Assistant Project Manager, Sunset Glenoaks Studios. Hudson said the development will offer content creators a unique production environment as the first large-scale facility built in the city in more than 20 years. New York-based RBC Real Estate Capital Partners provided the loan, property records show. Hudson Pacific and Blackstone already own three facilities in Hollywood: Sunset Bronson, Sunset Gower and Sunset Las Palmas. Needing an appropriate backdrop, Newsom signed the tax credit bill last week at Sunset Gower. storage and mill shop for set and prop construction. Sunset Glenoaks Studios will include 120,000 square feet of stage-adjacent support space, as well as offices with hillside views, a dedicated set- and prop-building space (known as a mill, in industry jargon) and parking for 450 cars, according to plans unveiled Thursday. It will be the fourth such property managed by the two firms, and bring their total to 42 sound stages. Our ability to capitalize from a real estate perspective, Chairman & CEO, Hudson Pacific Properties. 2023 Variety Media, LLC. Continue with Recommended Cookies. (16) Skyway Landing was sold on February 6, 2023. The partners said the operation will prioritize sustainability, health and wellness including EV charging stations, bike parking and showers, and will be 100% carbon neutral. Variety reports that the project will be among the first developments to benefit from a $150-million state tax credit intended to promote the construction of new production facilities. The home is located at the end of the cul de sac. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. Sen. Bill Cassidy, R-La., on Sen. Kyrsten Sinema speaking out against President Biden's push to change the filibuster. . While demand for studio space in Los Angeles remains high, the seven-year gap between approvals and construction may be perfect timing for the Sunset Glenoaks project. What did Disney actually lose from its Florida battle with DeSantis? With soundstages in short supply and production on the rise, a developer plans to build a new studio in Hollywood. Liked by Lee Watkins. The complex is the second large project the two firms have undertaken since HPP sold a 49 percent stake in its studio portfolio to Blackstone last year. Los Angeles, A $150,000 executive protection dog? RPR/Snyder Langston's latest project, Sunset Glenoaks Studios. Sunset Glenoaks is a perfect example of our long-term strategy with Blackstone to buy and transform existing facilities and to build new, state-of-the-art studios within Los Angeles and other high-priority production markets weve identified for expansion, Hudson Pacific Properties Chairman and CEO Victor Coleman said in a statement. Jacob Werner, senior managing director for Blackstone Real Estate, said Sunset Oaks is the, first large-scale studio development in the last 20 years in the city. The Los . New demand for big entertainment-related spaces comes from old-line entertainment companies and newcomer streaming services such as Netflix, Apple TV+ and HBO Max. Shadow Hills. NBCUniversal plans for a major development at its famed Universal Studios lot, adding more soundstages as media companies race to satisfy the content boom. On Thursday, the new owners of the project a partnership of Hudson Pacific Properties and Blackstone announced they intend to invest $170-190 million to build the facility over the next two years. SERVICE LINE: Snyder Langston . 2 bed 1.5 bath 1279 sqft. HPP and Blackstone expect to invest $170 million to $190 million to develop the complex, eyeing a completion by the third quarter of 2023. Sunset Boulevard adding storage area of 628,000 square feet (58,300m2). The name was changed to "Sunset Gower Studios" and the lot became a rental facility for independent film companies. Other recently announced studio projects include a $650-million plan to build 17 soundstages on a site now occupied by the Los Angeles Times printing plant on Olympic Boulevard in an industrial neighborhood in downtown Los Angeles. Beautiful hardwood floors, quartz counters, and shaker cabinets bring the kitchen to life, while also featuring a countertop bar to dine at, or dine at the dining table surrounded by windows. A rendering of a soundstage at the planned Sunset Glenoaks Studios in Sun Valley. 4.We own 35% of the ownership interests in the . Separate dining room. This year, they plan to start . PARTNER CONTENT. said the pandemic accelerated pre-leasing studio demand trends, driving an abundant amount of capital to the tech and media industries., 5 Questions With Mast Capitals Camilo Miguel. Golden Gate Point , a 25 acre private peninsula. We are customizing your profile. If you would like to change your settings or withdraw consent at any time, the link to do so is in our privacy policy accessible from our home page.. Its Sunset Glenoaks Studios is . It's All About You, Here. The pair own Sunset Gower Studios, Sunset Bronson Studios and Sunset Las Palmas Studios, all historic studios in Hollywood that have been updated and lease production facilities and offices to people in the entertainment industry. This investment reflects both our high conviction in content creation, a space that is benefitting from strong, secular tailwinds, and our long-term commitment to the Los Angeles market. 5 min read. Sen. Cassidy applauds Sinema's speech, blasts Biden for dividing Americans. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. Guard gated community. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. Gorgeous unobstructed views of Sarasota Bay and City lights. 1 Available. A rendering of the entrance to the planned Sunset Glenoaks Studios in the Sun Valley neighborhood of Los Angeles. Construction started in fourth-quarter 2021 and will add 241,000 square feet and seven sound stages to Hudson and Blackstones joint Hollywood studio portfolio. AVILABLE April 1, 2024 THROUGH December 31, 2024. Hudson, in partnership with Blackstone, has acquired Sunset Gower, Sunset Bronson, Sunset Las Palmas and is developing Sunset Glenoaks, becoming become one of the largest independent owner-operators of studio space. Hudson Pacific, Blackstone To Build Sunset Glenoaks; Partners' Fourth LA Studio Project Amid Spiking Demand For Sound Stages. Sunset Studios includes three storied lots in HollywoodSunset Bronson, Sunset Gower, and Sunset Las Palmas, that have been home to iconic television shows and . Roger Vincent covers commercial real estate for the Los Angeles Times. Application. Quixote affords stage tenants and other productions a more full-service solution and expands Hudson Pacific's reach to capture production-related demand in Los Angeles and other key US media markets. (15) We own 50% of the ownership interest in the unconsolidated joint venture that owns Sunset Glenoaks Studios. The lot, in the meantime, sat fallow. By early 2020, Butler told the L.A. Times that construction had just gotten underway, and was expected to last 20 months. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. The project will include seven soundstages with clear heights of 35 or 40 feet and 120,000 square feet of support space. What are you most curious about? Sunset Glenoaks Studios, which will represent a total investment of approximately $170-190 million, is expected to be completed in the third quarter of 2023. When Sunset Glenoaks is complete, Hudson Pacific and Blackstones Sunset Studios brand will have 42 soundstages. The roughly $190-million project will include seven sound stages, each of which would range from 15,000 to 21,000 square feet in size and include 35 . Preconstruction and construction services for a new studio campus on 10 acres. New York-based. Local soundstages have remained leased during the pandemic; location shoots, which had dwindled to a trickle during the worst months of the pandemic, are mounting a comeback. Sunset Glenoaks Studio project tilting concrete panels to form the walls of the building! Plans also call for 120,000 square feet of accompanying stage support space, offices with views of the surrounding hillside, a mill, and parking for up to 450 vehicles. The Sunset Studios brand already includes three existing studios in Hollywood Sunset Gower Studios, Sunset Bronson Studios and Sunset Las Palmas Studios also jointly owned by Hudson Pacific and funds managed by Blackstone in a deal announced a year ago. That would make it much cheaper to shoot there than at pre-existing facilities. Send us a tip using our annonymous form. The roughly $190-million project will include seven sound stages, each of which would range from 15,000 to 21,000 square feet in size and include 35- and 40-foot ceiling heights. Hudson Pacific Properties reported in its fourth-quarter results last week that it secured a $94 million construction loan for a portion of the Sunset Glenoaks studio development with Blackstone.. Hudson Pacific Properties and Blackstone Group are planing a nearly $200 million production studio complex in Sun Valley, which would be the second such development in their joint venture. Community pool and tennis courts. Rather, Sunset Glenoaks Studios will go up in Sun Valley neighborhood north of North Hollywood in the San Fernando Valley. His memorial service was held on stages 12 and 14 at the studios (there is no stage 13). Upon its completion, the joint venture will collectively own and operate 42 stages, or 3.5 million square feet, of LA-area studio facilities under the Sunset Studios platform. The 240,000-square-foot Sunset Glenoaks Studios project will include seven film- and TV-ready soundstages, production office and support space with more than 10 acres at 11070 West Peoria Street in the Sun Valley neighborhood. Browse 15 Studios in Glen Oaks, NY to find your dream Glen Oaks studio apartment. RBC Capital Markets backs project in San Fernando Valley, Blackstone Group's Jonathan Gray, Hudson Pacific Properties's Victor J. Coleman and Sunset Studio Glenoaks (Blackstone Group, Hudson Pacific Properties, LinkedIn, iStock). We are excited to share that Quixote has been acquired by Hudson Pacific Properties. Sunset Glenoaks is located at 11070 West Peoria Street in the Sun Valley neighborhood near Burbank. Named Sunset Glenoaks Studios, the project will rise on a 10-acre site at 11070 W. Peoria St. and contain seven film and television sound stages ranging from 15,000 to 21,000 square feet, along with production office and support space. HPP and Blackstone secured approval last November for their 500,000-square-foot expansion of Sunset Gower in Hollywood. Cohn-Brandt-Cohn (CBC) Film Sales Corporation, "Sunset Gower Studios - via Socialbilitty Places", "Sunset Gower Studios, former home of Columbia, marks 100 years", "Hudson Pacific Properties plans massive expansion at Sunset Gower Studios", "Hollywood's Legendary Sunset Gower Studios Is Reborn: Multi-Million Dollar Remodeling and New Construction Underway", "A Thumbnail History of Sunset Gower Studios", https://en.wikipedia.org/w/index.php?title=Sunset_Gower_Studios&oldid=1117585492, Buildings and structures in Hollywood, Los Angeles, Film production companies of the United States, Entertainment companies based in California, Short description is different from Wikidata, Official website different in Wikidata and Wikipedia, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 22 October 2022, at 14:25. The developer applied for a building permit in April, but has not received it yet, according to city planning records. National real estate investment companies Hudson Pacific Properties and Blackstone have plans to develop a 240,000-square-foot studio facility in Sun Valley, the duo announced late last month. Is there anything else you'd like to ask 1267 St Ives Pl? Next. By subscribing, I agree to the Terms of Use and Privacy Policy. in the Sun Valley neighborhood near Burbank. Deadline is a part of Penske Media Corporation. It will be the fourth such property managed by the two firms, and bring their total to 42 sound stages. We are leveraging our development and studio operations expertise to further expand Sunset Studios facilities here in Los Angeles, where demand from leading content creators for top-notch, fully integrated sound stages and support space continues to significantly outpace supply.. Jacob Werner, senior managing director for Blackstone Real Estate, said Sunset Oaks is the first large-scale studio development in the last 20 years in the city. The Times landlord Atlas Capital Group intends to develop the parking lot around the printing plant in the near future and eventually take over the 1980s-era building and turn it into stages. The Registry-November 2, 2021 0. Established in 1912, it continues today as Hollywood's largest independent studio and an active facility for television and film production on its twelve soundstages. It has building amenities including onsite management, fitness center, on site laundry, garage parking, roof deck, and outdoor space. Sunset Gower Studios is a 14-acre (57,000 m 2) television and movie studio at the corner of Sunset Boulevard and Gower Street in Hollywood, California. Sunset Glenoaks Studios, which will represent a total investment of approximately $170 to 190 million, is expected to be completed in third quarter 2023. Sarah Butler. The Technicolor building opened its doors in 2008. Design includes the option to shoot on a virtual stage; a state-of-the-art power grid designed for LED lighting; and high-speed fiber connectivity with scalable Internet. if(typeof ez_ad_units!='undefined'){ez_ad_units.push([[580,400],'whatnowlosangeles_com-medrectangle-3','ezslot_0',133,'0','0'])};__ez_fad_position('div-gpt-ad-whatnowlosangeles_com-medrectangle-3-0'); The total development cost for Sunset Glenoaks Studios is expected to be between $170 million and $190 million, according to the recent announcement. Hudson Pacific owns Quixote, a leading provider of production services including sound stages, production supplies and transportation vehicles. . A rendering of office space next to soundstages at Sunset Glenoaks Studios. Sunset Glenoaks Studios will have seven soundstages for the production of movies and television shows when it opens in late 2023, developers Hudson Pacific Properties Inc. and Blackstone said. In 2021 the two announced plans to invest $170 million to $190 million to develop a 240,000-sq.-ft. production studio on the edge of LA, Sunset Glenoaks Studios. 10. Specialty Preview, Ozy Media Closes In Wake Of Founder Carlos Watson Scandal, TikTok Introduces New Feature To Limit Screen Time For Teens, Rachael Ray Daytime Talk Show To End After 17 Seasons, Eyes $45.5M Opening In U.S., A Record For Rocky Spinoff Franchise & Amazon, SAG-AFTRA And Casting Directors Weigh In On Self-Tape Controversy, Oscar Winner Guillermo Del Toro On The Films That Lit His Fuse. It does not appear that any building permits were pulled, however, and in January 2021, the Commercial Observer reported that Line 204 was looking to unload the property to Hudson Pacific. Among the modern touches will be a power grid designed for LED lighting and high-speed fiber connectivity that will enable productions to send high-resolution video from cameras to on-site editing suites and offices. Sunset Glenoaks Studios. The operator of Sunset Studios, Hudson Pacific Properties, has acquired Quixote Studios for $360 million, significantly expanding its footprint in the . One of the countrys biggest independent studio operators plans a new movie studio in the Sun Valley neighborhood of Los Angeles as demand for soundstages gears up in the region. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Greystone sells Lantana apartments to real estate mogul for $10M, Sticker shock: Ranking South Floridas priciest residential rentals, High Street, Daiwa bring resi to River Oaks, St. Charles revamp of torched resort takes center stage in local City Hall races, LIV plans massive resi project in Fort Worth, KBS deal to sell Union Bank Plaza to Joel Schreiber delayed for 9th time. We use cookies for anonymous analytics and operational purposes: information we share with our affiliates and our service providers is solely for purposes of advising us on the nature and extent of our website traffic for marketing and security purposes. The 240,000-square-foot Sun Valley project will be known as Sunset Glenoaks Studios. 2023 Deadline Hollywood, LLC. The firms also announced the planned development in a news release. In 1977, the property was purchased by the Pick Vanoff Company for $6.2 million. Between 1970 and 1972, Columbia moved from the 14-acre (57,000m2) lot, and joined forces with Warner Bros. in Burbank, then subsequently later moved to the Sony Pictures Studios (formally MGM and Lorimar Studio) in Culver City. First large-scale, purpose-built studio development in Los Angeles in over 20 years State-of-the-art 240,000-square-foot project to include 7 stages, production office and support space Property to. The timing almost could not have worked out better. a leading real estate investment trust based in Los Angeles and owner/operator of Sunset Studios. - Sunset Magazine. In 2014, the City of Los Angeles signed off on a proposal to redevelop a former gravel pit in the Northeast San Fernando Valley with a movie studio. We are customizing your profile 2 Beds. Desde Universal Studios Hollywood, Universal City, La 67 min; Desde SLS Hotel, a Luxury Collection Hotel, Beverly Hills, Beverly Grove, La 50 min; Desde 24 Hour Fitness, East Los Angeles . The primary bedroom is filled with natural light and hosts its . In July, Hudson Pacific and Blackstone announced the duo were planning to build a $190 million studio complex across 10 acres on Peoria Street in Sun Valley named Sunset Glenoaks. Signup for Breaking News Alerts & Newsletters. You will be redirected back to your article in. That sets up a race for productions to lease out space in newly built soundstages before the credit funding is exhausted. - by Travel + Leisure and Travel + Leisure Staff. This year has also seen the first large-scale new construction studio project to break ground in Los Angeles in decades with Hudson Pacific Properties and Blackstone planning to build Sunset . The 240,000-square-foot state-of-the-art facility will include seven sound stages, production office and support space. Responding to the surging demand for state-of-the-art studio space, Hudson Pacific Properties Inc. and Blackstone are teaming up to develop the first large-scale, purpose-built studio in the Los Angeles area in more than 20 years. The company also said on its website that construction began in 2020. 10-acre Sunset Glenoaks would be 2nd major development project since JV formed, Blackstone Group President Jonathan Gray and Hudson Pacific Properties CEO Victor J. Coleman with the proect (Blackstone, HPP). Hudson Pacific Properties and Blackstone Group are set to build what they're calling Sunset Glenoaks Studios for $170 million to $190 million an approved soundstage development to add to its prized Sunset Studios portfolio and the overall race for content creation space in the L.A. area. All our breaking news, straight to your inbox. Construction of the roughly 240,000-square-foot studio complex is expected to begin this year and wrap up by the third quarter of 2023. What Now Media Group 2023. On an earnings call Thursday, Hudson Pacific said construction has already started on Sunset Glenoaks, with opening slated for 2024. We want to hear from you! Gregory Cornfield can be reached at [email protected].
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