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. 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. HPP and Blackstone secured approval last November for their 500,000-square-foot expansion of Sunset Gower in Hollywood. Construction is expected to be completed in the third quarter of 2023 at a cost of $170-$190 million. It will feature seven soundstages on a 10-acre parcel at 11070 W. Peoria . 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. 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 . 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. Gavin Newsom signed a new $150 million tax credit into law, which is aimed to spur the construction of new production facilities. 7083 Hollywood Blvd, 2nd Floor, Los Angeles, CA 90028 Phone: 212-260-1332 Roger Vincent covers commercial real estate for the Los Angeles Times. As the demand for content continues to expand, we are well positioned to benefit in the coming years.. 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 . Redefining Studios in Los Angeles - Hudson Pacific Properties 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. 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. Hudson Pacific buys Quixote Studios in $360-million deal Rich L.A. homeowners are snapping them up, Stocks jump as Wall Street cruises to best day since January, Car debt piles up as more Americans owe thousands more than vehicles are worth, Chicken-flavored ice cream? 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. Shadow Hills. Hudson Pacific, Blackstone To Build New Sunset Glenoaks Studio - Deadline Hudson Pacific announced the deal in a quarterly earnings release on Wednesday, but did not disclose the lender. The 240,000-square-foot state-of-the-art facility will include seven sound stages, production office and support space. Hudson Pacific, Blackstone Score Construction Loan for Sunset Glenoaks 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. Quixote Studios Being Acquired By Hudson Pacific For $360 Million 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. All dimensions are approximate. Recessed lighting in kitchen and living room. New York-based. HPP and Blackstone expect to invest $170 million to $190 million to develop the complex, eyeing a completion by the third quarter of 2023. The . By early 2020, Butler told the L.A. Times that construction had just gotten underway, and was expected to last 20 months. 1012 Glen Oaks Ct Austin TX 78702 - Apartment Finder 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. Last week, Gov. 1 Bed. This fabled orchid breeder loves to chat just not about Trader Joes orchids, Best coffee city in the world? 2.We own 50% of the ownership interests in the unconsolidated joint venture that owns Sunset Glenoaks Studios. 3+ 3+ Beds. Northern California Franchiser HomeSmiles Wins Prestigious Emerging Franchise Brand of the Year Award in Orlando, FL The Registry-January 20, 2023 0. 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. (15) We own 50% of the ownership interest in the unconsolidated joint venture that owns Sunset Glenoaks Studios. All Rights Reserved. 1267 St Ives Pl - Los Angeles, CA apartments for rent The timing almost could not have worked out better. The home is located at the end of the cul de sac. 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. 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. The Registry-November 2, 2021 0. PARTNER CONTENT. 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. 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. Dean Boerner is a California-based writer previously with Bisnow and the San Francisco Business Times. We are excited to share that Quixote has been acquired by Hudson Pacific Properties. Guard gated community. 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. Golden Gate Point , a 25 acre private peninsula. 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. 2. The 10-acre site in the Valley, now named Sunset . Though the project was approved by the Los Angeles City Council in 2015, it appears that productions that shoot at Sunset Glenoaks will qualify to claim the incentive. 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 owners said they are pursuing other expansion opportunities in Los Angeles, New York, London and Vancouver. It will have seven soundstages, offices and other production facilities on 10 acres. Deadline is a part of Penske Media Corporation. Property to join the Sunset Studios brand family as Sunset Glenoaks Studios LOS ANGELES and NEW YORK (July 29, 2021)Hudson Pacific Properties, Inc. ("Hudson Pacific") (NYSE: HPP) and Blackstone (NYSE: BX) today unveiled plans to develop a fully entitled, state-of-the-art, purpose-built studio facility in Sun Valley, California. 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. Hudson Pacific, Blackstone to develop $190m Los Angeles studio facility and a 30,000 s.f. 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. Soundstages are one of the hottest categories in commercial real estate as entertainment production keeps rising. On this Wikipedia the language links are at the top of the page across from the article title. A rendering of the entrance to the planned Sunset Glenoaks Studios in the Sun Valley neighborhood of Los Angeles. Sunset Glenoaks Studio - Concrete Tilt-Up Construction The Times may extend its lease there into the 2030s. . Kaiser Permanente plans to move 1,200 administrative jobs from . The studios are located at 5800 Sunset Boulevard, 1438 N Gower Street, and 1040 N Las Palmas Avenue, respectively. Sunset Studios has played a critical role in Hollywood for over 100 years. [2][3] Following success and a move into feature films, in 1926, CBC (under its new name of Columbia Pictures), acquired a Gower Street property with stages previously used by California Studios. Assistant Project Manager, Sunset Glenoaks Studios. Advertisement. Sept. 1, 2022 11:12 AM PT. SERVICE LINE: Snyder Langston . 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. The project will include seven soundstages with clear heights of 35 or 40 feet and 120,000 square feet of support space. 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. Production studio planned for San Fernando Valley (PHOTOS) A new movie studio is planned for the San Fernando Valley - Los Angeles 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. That project will finally move forward under the ownership of one of the region's biggest owners and developers of production facilities. 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. Floor plans are artist's rendering. 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. $4,200/mo. a leading real estate investment trust based in Los Angeles and owner/operator of Sunset Studios. Sunset Studios: 700m Hollywood studio set to open in the UK 1 Available. 1279 Sqft. This Week's LA Deal Sheet (August 8, 2021) - Bisnow 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. 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. 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. You will be redirected back to your article in. 1. They also claimed that the facility conflicted with the zoning, and that the site should remain open space. Well maintained complex. 2 bed 1.5 bath 1279 sqft. The project to expand production at Television City comes as shortages keep the regions existing soundstages booked year-round. Listings, photos, tours, availability and more. Helped in addressing FLS comments, produced construction details, revised drawings, conducted Code analysis, exiting analysis, and plumbing 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.. 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. Sunset Boulevard adding storage area of 628,000 square feet (58,300m2). 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. Hudson Pacific and Blackstone already own three facilities in Hollywood: Sunset Bronson, Sunset Gower and Sunset Las Palmas. Sunset Glenoaks Studios. In order to expand their studio platform joint venture, Hudson Pacific Properties and Blackstone (BX +0.3%) announced to develop Sunset Glenoaks Studios, a fully entitled, state-of-the-art . For more information, please see ourprivacy policy. It will cover 240,000 square feet on over 10 acres with seven sound stages. Sunset Glenoaks Studio Project Delayed Long Enough to Get Tax Credit 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. Hudson Pacific, Blackstone To Build Sunset Glenoaks; Partners - Yahoo 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. 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. Roger Vincent. 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. storage and mill shop for set and prop construction. Hollywood's Sunset Studio to open new base in Hertfordshire Hudson Pacific buys Quixote Studios in $360-million deal 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. Their lawsuit was rejected by a Los Angeles Superior Court judge in 2016. This year, they plan to start . Earlier this year, Hudson Pacific and Blackstone unveiled plans to develop Sunset Glenoaks Studios to take advantage of the growing market for soundstages. 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. 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. We and our partners use cookies to Store and/or access information on a device. About 616 Golden Gate Pt #7. Blackstone to Buy PS Business Parks for $7.6 B Studio Lot Rentals At Sunset Los Angeles 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.. Major renovations from flooring to new kitchen, and bathrooms . Separate dining room. The Sunset portfolio includes more than 60 stages across five lots in Los Angeles and the U.K. 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. 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. Sunset Glenoaks Studios | Urbanize LA 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. 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. 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. Since 2007, the studio has been undergoing both interior and exterior improvements on the lot. It is located in the Valley Village neighborhood of Los Angeles. Hudson Pacific On Path to Develop Seven West Coast Studio and Office Sunset Glenoaks Studio project tilting concrete panels to form the walls of the building! Sunset Glenoaks Studio Project Delayed Long Enough to Get Tax Credit Continue with Recommended Cookies. Famed Universal Studios lot will add soundstages as film and TV Have a question for 1267 St Ives Pl? 5 min read. Sunset Glenoaks Studio Project Delayed Long Enough to Get Tax Credit - Variety . The 10-acre site in the Valley, now named Sunset Glenoaks, stands to be among the first in line to benefit. It required a 440-ton crawler crane to lift these 70-foot concrete . Seven film . 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. With soundstages in short supply and production on the rise, a developer plans to build a new studio in Hollywood. PDF Hudson Pacific Properties and Blackstone to Develop Los Angeles Area On an earnings call Thursday, Hudson Pacific said construction has already started on Sunset Glenoaks, with opening slated for 2024. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. It will have seven soundstages, offices and other production facilities on 10 acres. and a 30,000 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. Preconstruction and construction services for a new studio campus on 10 acres. One of the "World's most romantic hotels". Hudson-Blackstone JV Nabs $94M for Sunset Glenoaks 3.We own 20% of the ownership interests in the unconsolidated joint venture that owns Burrard Exchange. Our ability to capitalize from a real estate perspective, Chairman & CEO, Hudson Pacific Properties. 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 . The facility will also include . Outside of the studio world, the firm is still heavily focused on office properties. Patrick Mobini - Project/BIM Manager, Project Coordinator - LinkedIn It would be the first such project built in Los Angeles in decades, and it would help stop shows from fleeing to other states. Soundstages to Rise in Sylmar - San Fernando Valley Business Journal "Unique to Glen Oaks Big Sur, you have access to acres of prime hiking trails, the Big Sur River, and redwood groves". 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.. Application - S&P Global 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. 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 . Sunset Glenoaks Studios Archives - The Registry About Sunset Studios The Sunset Gower Studios lot, the home of such Columbia classics as Frank Capra's It Happened One Night in 1934, Mr. Smith Goes to Washington in 1939, the Three Stooges shorts, Funny Girl and The Caine Mutiny, has continued to host productions of top new films such as The Good Shepherd and The Good German. 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. $190-million office, studio complex coming to the Northeast Valley. The Technicolor building opened its doors in 2008. One of "Sunset's best cabin getaways". Two bedrooms 1 and 1/2 bath townhome for lease in desirable N/W Glendale above Glenoaks. 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 . 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. It will be the fourth such property managed by the two firms, and bring their total to 42 sound stages. Sunset Glenoaks Studios will be top notch, featuring seven film- and TV-ready sound stages that will range from 15,000 to 21,000 square feet, nearly 120,000 square feet of highly efficient, stage . We are excited to share that Quixote has been acquired by Hudson 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 owns Quixote, a leading provider of production services including sound stages, production supplies and transportation vehicles. Historic Warner Bros. Ranch movie studio lot heads for a - Yahoo! HPP and Blackstone Unveil $180M Studio Plans - Connect CRE
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