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. Its expected to be complete by the third quarter of 2023. New York-based RBC Real Estate Capital Partners provided the loan, property records show. 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 Los Angeles area already ranks as the worlds leader in soundstage capacity with more than 5.2 million square feet of certified space, FilmLA data show. The Los Angeles-based commercial landlord reported $240.5 million in revenue in the fourth quarter of last year, a slight increase compared to the previous quarter. NBCUniversal plans for a major development at its famed Universal Studios lot, adding more soundstages as media companies race to satisfy the content boom. The 240,000-square-foot project will include seven film- and TV-ready soundstages, production office . RPR/Snyder Langston's latest project, Sunset Glenoaks Studios. . The project will include seven soundstages with clear heights of 35 or 40 feet and 120,000 square feet of support space. In the fourth quarter, Hudson Pacific finished its 584,000-square-foot One Westside project a former mall that was redeveloped into office space and is leased to Google. The year-ago loss was mostly attributed to a jump in operating expenses and costs associated with several major acquisitions. Sunset Studios has played a critical role in Hollywood for over 100 years. We are excited to share that Quixote has been acquired by Hudson Pacific Properties. All our breaking news, straight to your inbox. Construction of Sunset Glenoaks Studios is slated to begin this year. The Sunset Studios branding follows the branding of three other large production facilities they own Sunset Gower Studios, Sunset Bronson Studios, and Sunset Las Palmas. The film . In 1928, Columbia's official address became 1438 Gower Street and that year they bought the last piece of land of the old Gower Ranch at 1400 N Gower Street.[3]. By subscribing, I agree to the Terms of Use and Privacy Policy. The firms also announced the planned development in a news release. The name was changed to "Sunset Gower Studios" and the lot became a rental facility for independent film companies. The company also said on its website that construction began in 2020. 2 Beds. 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. 2.We own 50% of the ownership interests in the unconsolidated joint venture that owns Sunset Glenoaks Studios. Sustainability and health and wellness are a priority. Harry Cohn died in 1958 at the age of 66. 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. Hudson Pacific, Blackstone To Build Sunset Glenoaks; Partners' Fourth LA Studio Project Amid Spiking Demand For Sound Stages. Upon the completion of Sunset Glenoaks Studios in Sun Valley, California, Blackstone and HPP will collectively own and operate under its Sunset Studios platform 42 stages or 3.5 million square feet, including development rights, of Los Angeles area studio . For more information, please see ourprivacy policy. In Sun Valley, partners Hudson Pacific Properties Inc. and Blackstone secured a $94 million loan to build Sunset Glenoaks Studio, which will see seven soundstages cover 241,000 square feet . 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. Our ability to capitalize from a real estate perspective, Chairman & CEO, Hudson Pacific Properties. Subscribe to Deadline Breaking News Alerts and keep your inbox happy. $4,200/mo. a leading real estate investment trust based in Los Angeles and owner/operator of Sunset Studios. Square footage may change over time due to re-measurement or re-leasing. Sunset Glenoaks is being planned by Hudson Pacific and its partner Blackstone. Large living room. 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, said Hudson Pacific Properties chairman Victor Coleman in a prepared statement. and a 30,000 s.f. 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 Bed. AVILABLE April 1, 2024 THROUGH December 31, 2024. Hudson Pacific, which entered into its partnership with Blackstone in 2020, owns 42 soundstages and 3.5 million square feet of existing or proposed real estate under its Sunset Studios portfolio, including the existing Sunset Bronson, Sunset Gower, and Sunset Las Palmas properties. Tag: Sunset Glenoaks Studios. Sunset Boulevard adding storage area of 628,000 square feet (58,300m2). . . 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. Signup for Breaking News Alerts & Newsletters. Liked by Lee Watkins. Sunset Glenoaks Studios Sun Valley, CA. Hudson Pacific's Sunset Studios has revolutionized the studio for those revolutionizing content. Hudson Pacific and Blackstone already own three facilities in Hollywood: Sunset Bronson, Sunset Gower and Sunset Las Palmas. 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. Sunset Glenoaks Studio project tilting concrete panels to form the walls of the building! The Sunset portfolio includes more than 60 stages across five lots in Los Angeles and the U.K. RBC Capital Markets provided the loan in December to a limited liability company linked to Hudson Pacific, records show. Guard gated community. New light . PARTNER CONTENT. 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. We are customizing your profile They appealed, and the appeal was denied in 2018. 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. Hudson Pacific Properties and Blackstone are planning a ground-up studio facility in Sun Valley. Hospdate en esta casa de vacaciones en Norte de Hollywood. Last updated March 1 2023 at 10:45 AM. LEARN MORE. The home is located at the end of the cul de sac. It will have seven soundstages, offices and other production facilities on 10 acres. Sunset Studios is one of the largest independent studio operations in Los Angeles and manages almost half of all studio space in Hollywood. The project includes EV charging stations, bike parking, and showers, and will be 100% carbon neutral. 7083 Hollywood Blvd, 2nd Floor, Los Angeles, CA 90028 Phone: 212-260-1332 , 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. Mark Lammas, 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. 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.. Browse 15 Studios in Glen Oaks, NY to find your dream Glen Oaks studio apartment. Tendrs a tu disposicin albercas privadas, wifi y estacionamiento. Great opportunity to move into this 5 bedroom 3 full bath lakeview pool home in prestigious Lexington estates. 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. The . 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. In 2017, developer Hudson Pacific Properties submitted plans providing details of its new vision for Hollywood's landmark Sunset Gower Studios. The 240,000-square-foot state-of-the-art facility will include seven sound stages, production office and support space. 10. Since 2007, the studio has been undergoing both interior and exterior improvements on the lot. CEO Victor Coleman said the pandemic accelerated pre-leasing studio demand trends, driving an abundant amount of capital to the tech and media industries., Production spend is anticipated to increase again this year as the battle for streaming service subscribers further intensifies the U.S. and global markets alike, Coleman said. We and our partners use cookies to Store and/or access information on a device. All new a 2 bedroom and 1/1/2 bath. 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 . 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. Sunset Glenoaks Studios, which will represent a total investment of approximately $170 to 190 million, is expected to be completed in third quarter 2023. [6], Coordinates: .mw-parser-output .geo-default,.mw-parser-output .geo-dms,.mw-parser-output .geo-dec{display:inline}.mw-parser-output .geo-nondefault,.mw-parser-output .geo-multi-punct{display:none}.mw-parser-output .longitude,.mw-parser-output .latitude{white-space:nowrap}34546N 1181916W / 34.09611N 118.32111W / 34.09611; -118.32111. A large list of successful films were produced during this time, and in 1982, Columbia Pictures Industries, Inc. was sold to The Coca-Cola Company for $750 million.[5]. To be called Sunset Glenoaks Studios, the fully equipped, state-of-the-art studio facility will be the first large-scale, purpose-built studio in the Los Angeles area in more than 20 years, the companies said. 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. Dean Boerner is a California-based writer previously with Bisnow and the San Francisco Business Times. The pair will develop Sunset Glenoaks Studios, which forms part of three existing Sunset studios in Hollywood also jointly owned by Hudson Pacific and funds managed by Blackstone. 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. Construction started in fourth-quarter 2021 and will add 241,000 square feet and seven sound stages to Hudson and Blackstones joint. Before that, he spent two years as the publication's sports editor, and he remains a committed fan, for better or worse, of his Sacramento Kings, San Francisco Giants, and Saint Mary's Gaels. Hollywood's Sunset Studios, which produced La La Land, Zoolander and the first in the X-Men franchise, has become the latest US movie production house to adopt the leafy . The owners said they are pursuing other expansion opportunities in Los Angeles, New York, London and Vancouver. Seven film . New York-based RBC Real Estate Capital Partners provided the loan, property records show. This field is for validation purposes and should be left unchanged. 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.It will also join the Sunset Studios brand, which includes three Hollywood studios - Sunset Gower Studios, Sunset Bronson Studios, and Sunset Las Palmas . The Poverty Row area of Hollywood, bounded by Sunset Boulevard on the North, Gower Street on the West, and Beachwood Drive on the East, was a collection of small warehouses and offices where independent film makers gathered to buy "short ends" of film from the major studios, in order to create their "great American dreams". and a 30,000 s.f. Last week, Gov. What are you most curious about? 2023 Variety Media, LLC. Los Angeles, A $150,000 executive protection dog? 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). This Week's LA Deal Sheet. Roger Vincent covers commercial real estate for the Los Angeles Times. It was also used in the seventies as a music rehearsal facility catering to musicians such as Elton John, Fleetwood Mac, The Eagles, Led Zeppelin, Ringo Starr, Frank Zappa, and Olivia Newton-John. The developers expect to complete the project in the third quarter of 2023. Sept. 1, 2022 11:12 AM PT. Yes, Scream VI Marketing Is Behind the Creepy Ghostface Sightings Causing Scares Across the U.S. David Oyelowo, Taylor Sheridan's 'Bass Reeves' Series at Paramount+ Casts King Richard Star Demi Singleton (EXCLUSIVE), Star Trek: Discovery to End With Season 5, Paramount+ Pushes Premiere to 2024. With many projects in the planning process, the company is also wrapping construction on One Westside, a 584,000 square-foot creative office project in Los Angeles. Soundstages are one of the hottest categories in commercial real estate as entertainment production keeps rising. 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. Chad Johnson, Former 'Bachelorette' Contestant, Wins Round In . COPYRIGHT 2020 KIMBERLINA WHETTAM & ASSOCIATES. A rendering shows a planned movie studio, Sunset Glenoaks Studios, in the Sun Valley neighborhood of Los Angeles. But now, that long delay looks like a lucky break. All rights reserved. But he encountered further delays. All Rights Reserved. Hudson Pacific announced the deal in a quarterly earnings release on Wednesday, but did not disclose the lender. Dubbed Sunset Glenoaks Studios, the 240,000-sq-ft, 10-acre project will house seven stages, ranging from 15,000 to 21,000 sq ft with 35-ft or 40-ft clear heights. We want to hear from you! The project includes seven sound stages totaling 136,000 s.f, four production office buildings totaling 91,000 s.f. 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. As the demand for content continues to expand, we are well positioned to benefit in the coming years.. This year, they plan to start . Sunset Gower Studios is now working closely with its sister company Sunset Bronson Studios, located just a couple of blocks east on the site of the original Warner Bros. lot (192337), formerly owned by Tribune Broadcasting, and Sunset Las Palmas Studios, formerly the Hollywood Center Studios until 2017. 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. 2 Bd, 1 Ba 1 Half Ba. The project will cost as much as $190 million, and work is set to begin this year. Their lawsuit was rejected by a Los Angeles Superior Court judge in 2016. What did Disney actually lose from its Florida battle with DeSantis? Sunset Glenoaks Studios will cost between $170 million and $190 million and feature 240,000 square feet on more . 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. Sen. Bill Cassidy, R-La., on Sen. Kyrsten Sinema speaking out against President Biden's push to change the filibuster. Seven years ago, a developer floated a plan to build a new TV and film production facility on the site of an old gravel pit in the San Fernando Valley. (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. 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. 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. Deadline is a part of Penske Media Corporation. HPP owns roughly 20 percent of all leasable soundstage space in Los Angeles County, making it one of the largest studio investors in L.A. along with Hackman Capital Partners. Those three have 35 sound stages (1.2 million square feet). Listings, photos, tours, availability and more. Hudson Pacific owns Quixote, a leading provider of production services including sound stages, production supplies and transportation vehicles. With Hudson Pacific, Blackstone is developing the $190 million, 240,000-square-foot Sunset Glenoaks Studios in Sun Valley. Two story completely remodeled. 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. In August of last year, just after the firms announced Sunset Glenoaks, the companies scored $1.1 billion in refinancing for the entire studio portfolio from Bank of America, Wells Fargo and Societe Generale. Sunset Studios. 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. 1. Sarah Butler. 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. Storied movie studio Warner Bros. Ranch in Burbank will be redeveloped with 16 new soundstages as demand for facilities to make movies and television . 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. The neighbors didnt like the plan, citing traffic and other objections, and the project got bogged down in years of costly litigation. 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. 2021. 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. (16) Skyway Landing was sold on February 6, 2023. | January 23, 2023 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. 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. 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. Do Not Sell or Share My Personal Information, A $1.25-billion overhaul will bring Television City into the streaming era, A new film studio is coming to Hollywood and not a moment too soon for eager creators, a $650-million plan to build 17 soundstages, a new $450-million independent studio in Hollywood, Tesla Mexico plant means $10-billion investment, Nuevo Leon governor says, Assistants kindly request that you stop calling them assistants, Working more on the weekends? It will cover 240,000 square feet on over 10 acres with seven sound stages. 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. By purchasing and renovating existing studios as well as building new facilities from the ground up, Hudson Pacific has established Sunset Studios as one of the leading operators of premier, independent, purpose-built studios and related production services in Los Angeles and the UK. 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. Rather, Sunset Glenoaks Studios will go up in Sun Valley neighborhood north of North Hollywood in the San Fernando Valley. Its expected to be complete by the third quarter of 2023. SERVICE LINE: Snyder Langston . 2023 Deadline Hollywood, LLC. Sunset Glenoaks design includes optionality 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. Sunset Glenoaks Studios. Shadow Hills. Tenants at the studio properties include Netflix, which leases two Hudson Pacific-owned office buildings in Hollywood. A rendering of a soundstage at the planned Sunset Glenoaks Studios in Sun Valley. 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. Application. The Technicolor building opened its doors in 2008. You will be redirected back to your article in. 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.. But Sunset Glenoaks already has administrative approval, and the neighbors legal challenge has been defeated. Next. We are customizing your profile. Without the guidance of the Cohn Brothers, Columbia Pictures Corporation was not the profit-making company it once was. Separate dining room. His memorial service was held on stages 12 and 14 at the studios (there is no stage 13). Gavin Newsom signed a new $150 million tax credit into law, which is aimed to spur the construction of new production facilities. What Now Media Group 2023. The project includes seven sound stages totaling 136,000 s.f, four production office buildings totaling 91,000 s.f. The 240,000-square-foot Sunset Glenoaks Studios is slated to include seven soundstages, offices, and other support space on 10 acres at 11070 W. Peoria Street, according to Commercial Observer. New York-based. 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. 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. 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. 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. 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.
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