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. The surge in video-on-demand streaming provoked an insatiable appetite for media-oriented real estate such as studios and offices, according to real estate brokerage CBRE. With soundstages in short supply and production on the rise, a developer plans to build a new studio in Hollywood. The facility will also include . The project is estimated to cost between $180 million and $200 million. Harry Cohn died in 1958 at the age of 66. Chad Johnson, Former 'Bachelorette' Contestant, Wins Round In . Sunset Glenoaks will comprise approximately 240,000 square feet on over 10 acres, making it the first large-scale, purpose-built studio development in Los Angeles in decades. Los Angeles, A $150,000 executive protection dog? On this Wikipedia the language links are at the top of the page across from the article title. It will be the fourth such property managed by the two firms, and bring their total to 42 sound stages. storage and mill shop for set and prop construction. 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. At that time, Alton Butler, the CEO of Line 204, said that he expected to break ground that September, and that the project would be operational by late 2019. Those three have 35 sound stages (1.2 million square feet). We want to hear from you! Construction is expected to be completed in the third quarter of 2023 at a cost of $170-$190 million. 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.. 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. Hospdate en esta casa de vacaciones en Norte de Hollywood. That sets up a race for productions to lease out space in newly built soundstages before the credit funding is exhausted. Listings, photos, tours, availability and more. Two big projects recently surfaced in Downtown L.A. Atlas Capital Group wants to convert a former Los Angeles Times printing plant into a 17-stage campus, while East End Capital is planning a 237,000-square-foot complex closer to the Arts District. New York-based RBC Real Estate Capital Partners provided the loan, property records show. 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. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. 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. $4,200/mo. Last week, Hudson Pacific Properties and Blackstone announced plans for Sunset Glenoaks Studios, a project which would rise from a currently vacant 10-acre site at 11100-11220 W. Peoria Street. Gregory Cornfield can be reached at gcornfield@commercialobserver.com. Its expected to be complete by the third quarter of 2023. The film . This Week's LA Deal Sheet. A group of homeowners from the Shadow Hills community fought the project at City Hall, arguing that the studio would be too big and would generate too much traffic. The film-and-TV ready stages will range from 15,000 to 21,000 square feet, all with 35 to 40-foot clear heights. 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. They appealed, and the appeal was denied in 2018. 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. 1) Includes under construction 241,000 square-foot Sunset Glenoaks Studios in the San Fernando Valley and planned 1,167,000foot Sunset Waltham Cross Studios in North London and excludes 1,120,000 square feet of nonrevenue generating trailer and equipment - storage space. The owners said they are pursuing other expansion opportunities in Los Angeles, New York, London and Vancouver. 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. What are you most curious about? Hackman Capital Partners, the owner of Television City, formerly operated by CBS, announced plans in March to make $1.25 billion worth of improvements to the Los Angeles lot, including raising the number of soundstages to at least 15, from eight, along with production support facilities and offices for rent. 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. The project is estimated to cost between $180 million and $200 million. 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.. Its not just you, Work phones make a comeback as offices ban WhatsApp, TikTok, Desperate mountain residents trapped by snow beg for help; We are coming, sheriff says, Hidden, illegal casinos are booming in L.A., with organized crime reaping big profits. 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. Have a question for 1267 St Ives Pl? A rendering of the entrance to the planned Sunset Glenoaks Studios in the Sun Valley neighborhood of Los Angeles. Deadline is a part of Penske Media Corporation. 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. Large living room. 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. For more information, please see ourprivacy policy. a leading real estate investment trust based in Los Angeles and owner/operator of Sunset Studios. 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 law specifies that a studio will be considered new so long as it did not have a building permit on the date the law was signed that is, July 21. Seven film . Future location of Sunset Glenoaks Studios, the $1.25-billion Television City 2050 plan, a $650-million complex proposed for the L.A. Times Printing Plant site in Downtown. Its "back lot" on Hollywood Way in Burbank, where the Columbia westerns were made, became the property of Warner Bros. Columbia Pictures Corporation, renamed "Columbia Pictures Industries, Inc." after merging with its television subsidiary Screen Gems (now Sony Pictures Television) in 1968,[4] became a film entity without real estate. The Sunset portfolio includes more than 60 stages across five lots in Los Angeles and the U.K. Hudson Pacific On Path to Develop Seven West Coast Studio and. 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 . This fabled orchid breeder loves to chat just not about Trader Joes orchids, Best coffee city in the world? Floor plans are artist's rendering. 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. It will have seven soundstages, offices and other production facilities on 10 acres. 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. Sunset Studios has played a critical role in Hollywood for over 100 years. 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. 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. 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. Plans are for 120,000 square feet of stage-adjacent support space as well as offices with hillside views, a large mill (area where productions can construct sets), 450 parking stalls and generous truck loading. 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. Northern California Franchiser HomeSmiles Wins Prestigious Emerging Franchise Brand of the Year Award in Orlando, FL The Registry-January 20, 2023 0. 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. We are excited to share that Quixote has been acquired by Hudson Pacific Properties. LEARN MORE. 2021 Sunset Glenoaks Studios. 2023 Deadline Hollywood, LLC. Sunset Glenoaks will comprise approximately 240,000 square feet on over 10 acre s, making it the first large-scale, purpose-built studio development in Los Angeles in decades. 2021. His memorial service was held on stages 12 and 14 at the studios (there is no stage 13). Tag: Sunset Glenoaks Studios. (15) We own 50% of the ownership interest in the unconsolidated joint venture that owns Sunset Glenoaks Studios. and a 30,000 s.f. 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. Manage Settings The $150 million will be doled out by the California Film Commission on a first-come, first-served basis. Sunset Glenoaks is being planned by Hudson Pacific and its partner Blackstone. The Sunset Glenoaks studio has been delayed for seven years, and now stands to be first line for a new tax credit. Construction of Sunset Glenoaks Studios is slated to begin this year. Hudson Pacific and Blackstone already own three facilities in Hollywood: Sunset Bronson, Sunset Gower and Sunset Las Palmas. Kaiser Permanente plans to move 1,200 administrative jobs from . A rendering of a soundstage at the planned Sunset Glenoaks Studios in Sun Valley. . The Los . 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 . Sunset Boulevard adding storage area of 628,000 square feet (58,300m2). 10. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. Our Partner Guide outlines every step in opening a restaurant from concept creation to securing a lease to hiring your team, and everything in between. Sunset Glenoaks film-and-TV ready stages will range from 15,000 to 21,000 square feet, all with 35 to 40-foot clear heights. 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. It is located in the Valley Village neighborhood of Los Angeles. Studio. That project will finally move forward under the ownership of one of the region's biggest owners and developers of production facilities. 2 bed 1.5 bath 1279 sqft. New light . An example of data being processed may be a unique identifier stored in a cookie. 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. 3.We own 20% of the ownership interests in the unconsolidated joint venture that owns Burrard Exchange. , 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. It will have seven soundstages, offices and other production facilities on 10 acres. Not all features are available in every apartment. The consent submitted will only be used for data processing originating from this website. Hudson Pacific's Sunset Studios has revolutionized the studio for those revolutionizing content. Its expected to be complete by the third quarter of 2023. PARTNER CONTENT. COPYRIGHT 2020 KIMBERLINA WHETTAM & ASSOCIATES. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. Bardas Investment Group in May announced plans to build a 350,000-square-foot soundstage-and-office complex in Hollywood. The creation of the new studio in the San Fernando Valley fits into the developers long-term strategy to buy and transform existing facilities and build new studios in busy markets for film and television production, Hudson Pacific Chief Executive Victor Coleman said. demand in LA by leading content creators for top-notch, fully integrated sound stages and support space continues to significantly outpace supply. Home > Portfolio > Studios & Entertainment > Sunset Glenoaks Studios. In 1977, the property was purchased by the Pick Vanoff Company for $6.2 million. 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. 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.