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 . 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. Sunset Glenoaks will be Hudson Pacific and Blackstones fourth studio development together the firms already own Sunset Gower, Sunset Bronson and Sunset Las Palmas in Hollywood giving it 42 soundstages altogether. We want to hear from you! 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. 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. Lee opiniones genuinas de huspedes que se hospedaron en NoHo Mansion w/ Pool + BBQ + Basketball Court, en la zona de Valley Glen, y consulta los . $4,200/mo. Los Angeles, A $150,000 executive protection dog? The 240,000-square-foot state-of-the-art facility will include seven sound stages, production office and support space. Its expected to be complete by the third quarter of 2023. Sunset / Alvarado: 4 min a pie: VER: Glendale / Reservoir: 4 min a pie: VER: Estaciones de Metro cercanas a La Seismic Construction en Echo Park, La. 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. Their lawsuit was rejected by a Los Angeles Superior Court judge in 2016. Sunset Glenoaks Studio project tilting concrete panels to form the walls of the building! 2. Hudson Pacific and Blackstone already own three facilities in Hollywood: Sunset Bronson, Sunset Gower and Sunset Las Palmas. Established in 1912, it continues today as Hollywood's largest independent studio[1] and an active facility for television and film production on its twelve soundstages. 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. Earlier this year, Hudson Pacific and Blackstone unveiled plans to develop Sunset Glenoaks Studios to take advantage of the growing market for soundstages. Studio. New light . 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. On this Wikipedia the language links are at the top of the page across from the article title. What Now Los Angeles is assembling LA's leading organizations in the restaurant, retail and real estate industries to help you take your business to the next level. For more information, please see ourprivacy policy. 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. In 1977, the property was purchased by the Pick Vanoff Company for $6.2 million. The project will include seven soundstages with clear heights of 35 or 40 feet and 120,000 square feet of support space. 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. 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 . Advertisement. Sunset Studios. 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). The 10-acre site in the Valley, now named Sunset . He received his bachelor's degree in economics and business from Saint Mary's College of California, where he also served as the editor-in-chief of The Collegian, the school's campus newspaper. 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, Coleman said in a statement. reported in its fourth-quarter results last week that it secured a $94 million construction loan for a portion of the, The project is estimated to cost between $180 million and $200 million. Sunset Glenoaks Studios will be a new complex on 10 acres on Peoria Street in an industrial district of Sun Valley near Glenoaks Boulevard. Variety and the Flying V logos are trademarks of Variety Media, LLC. This field is for validation purposes and should be left unchanged. 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 . 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. Big players have been jumping in. 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. Last week, Gov. 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. 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., Future location of Sunset Glenoaks StudiosGoogle Maps. LEARN MORE. 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. We are customizing your profile 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. 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. The developers expect to complete the project in the third quarter of 2023. Square footage may change over time due to re-measurement or re-leasing. 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. Browse 15 Studios in Glen Oaks, NY to find your dream Glen Oaks studio apartment. 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]. Is there anything else you'd like to ask 1267 St Ives Pl? 2021. Gregory Cornfield can be reached at gcornfield@commercialobserver.com. A rendering of a soundstage at the planned Sunset Glenoaks Studios in Sun Valley. ACCESSIBILITY AUDIT; The companies said the 240,000sqft studio situated on over 10 acres, which will cost between $170-190m to develop, is expected to be completed in the third quarter of . 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. Hudson Pacific has been at the forefront of Hollywood's renaissance for more than a decade. (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. 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. The operator of Sunset Studios, Hudson Pacific Properties, has acquired Quixote Studios for $360 million, significantly expanding its footprint in the soundstage business. 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. 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. Read Next: Why Sylvester Stallone Is Not in Creed 3, Georgia Lawmakers to Review States $1.3 Billion Film Credit, Jussie Smollett Appeals 150-Day Jail Sentence in Hate Crime Hoax, IATSE Accelerates VFX Industry Organizing Drive with Release of Working Conditions Survey, Harry Potter Star Evanna Lynch: I Wish People Would Give J.K. 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Cole: This Song Opens a Door to My Next Chapter, Britain's $4 Billion Boss: ITV Chief Carolyn McCall Bets It All on Talent, 2023 Music Festivals: How to Buy Tickets to Coachella, Governors Ball, Lollapalooza and More. The owners said they are pursuing other expansion opportunities in Los Angeles, New York, London and Vancouver. 10. With soundstages in short supply and production on the rise, a developer plans to build a new studio in Hollywood. It will be the fourth such property managed by the two firms, and bring their total to 42 sound stages. 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 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. SERVICE LINE: Snyder Langston . 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. 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. Community pool and tennis courts. 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. 2.We own 50% of the ownership interests in the unconsolidated joint venture that owns Sunset Glenoaks Studios. With about 240,000 square feet across more than 10 acres, the new . All rights reserved. $190-million office, studio complex coming to the Northeast Valley. The Times may extend its lease there into the 2030s. 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. 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. The timing almost could not have worked out better. The studios are located at 5800 Sunset Boulevard, 1438 N Gower Street, and 1040 N Las Palmas Avenue, respectively. Hudson Pacific, Blackstone To Build Sunset Glenoaks; Partners' Fourth LA Studio Project Amid Spiking Demand For Sound Stages. and a 30,000 s.f. Have a question for 1267 St Ives Pl? 4.We own 35% of the ownership interests in the . AVILABLE April 1, 2024 THROUGH December 31, 2024. 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. It would be the first such project built in Los Angeles in decades, and it would help stop shows from fleeing to other states. Some of our partners may process your data as a part of their legitimate business interest without asking for consent. The firms also announced the planned development in a news release. Construction started in fourth-quarter 2021 and will add 241,000 square feet and seven sound stages to Hudson and Blackstones joint. The home is located at the end of the cul de sac. 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. A rendering of the entrance to the planned Sunset Glenoaks Studios in the Sun Valley neighborhood of Los Angeles. Sunset Glenoaks Studios. An example of data being processed may be a unique identifier stored in a cookie. fridge, range, hood and Brand new dishwasher. Something opening or closing in your hood? You will be redirected back to your article in. Seven film- and TV . 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". Hudson Pacific owns Quixote, a leading provider of production services including sound stages, production supplies and transportation vehicles. Our ability to capitalize from a real estate perspective, Chairman & CEO, Hudson Pacific Properties. - Sunset Magazine. 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 .
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