. With Hudson Pacific, Blackstone is developing the $190 million, 240,000-square-foot Sunset Glenoaks Studios in Sun Valley. Rather, Sunset Glenoaks Studios will go up in Sun Valley neighborhood north of North Hollywood in the San Fernando Valley. Construction started in fourth-quarter 2021 and will add 241,000 square feet and seven sound stages to Hudson and Blackstones joint. 2 Beds. 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. 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. 1 Bed. Last week, Gov. Northern California Franchiser HomeSmiles Wins Prestigious Emerging Franchise Brand of the Year Award in Orlando, FL The Registry-January 20, 2023 0. All dimensions are approximate. In 1977, the property was purchased by the Pick Vanoff Company for $6.2 million. Sen. Bill Cassidy, R-La., on Sen. Kyrsten Sinema speaking out against President Biden's push to change the filibuster. We are excited to share that Quixote has been acquired by Hudson Pacific Properties. 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. Application. 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. Since 2007, the studio has been undergoing both interior and exterior improvements on the lot. Amid a production rise fueled by Hollywood's pivot to streaming, the need to lock in filming space is becoming more critical and a soundstage boom is overtaking the Southland, with . 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. 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 . 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. 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. 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. 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. 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 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. 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. 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. Deadline is a part of Penske Media Corporation. 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. It will feature seven soundstages on a 10-acre parcel at 11070 W. Peoria . The owners said they are pursuing other expansion opportunities in Los Angeles, New York, London and Vancouver. 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. This year, they plan to start . But Sunset Glenoaks already has administrative approval, and the neighbors legal challenge has been defeated. The year-ago loss was mostly attributed to a jump in operating expenses and costs associated with several major acquisitions. He noted that demand in LA by leading content creators for top-notch, fully integrated sound stages and support space continues to significantly outpace supply. This field is for validation purposes and should be left unchanged. demand in LA by leading content creators for top-notch, fully integrated sound stages and support space continues to significantly outpace supply. A CERTIFIED LOS ANGELES SLB. 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. 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 . It will also join the Sunset Studios brand, which includes three Hollywood studios Sunset Gower Studios, Sunset Bronson Studios, and Sunset Las Palmas Studios also owned by HPP and funds managed by Blackstone. Tendrs a tu disposicin albercas privadas, wifi y estacionamiento. provided the loan, property records show. 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. For more information, please see ourprivacy policy. Hudson Pacific On Path to Develop Seven West Coast Studio and. (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. Sunset Glenoaks Studios Sun Valley, CA. All Rights Reserved. The price tag for the project, to be called Sunset Glenoaks Studios, is . Sept. 1, 2022 11:12 AM PT. HPP and Blackstone expect to invest $170 million to $190 million to develop the complex, eyeing a completion by the third quarter of 2023. ALL RIGHTS RESERVED. 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. On this Wikipedia the language links are at the top of the page across from the article title. It has building amenities including onsite management, fitness center, on site laundry, garage parking, roof deck, and outdoor space. The operator of Sunset Studios, Hudson Pacific Properties, has acquired Quixote Studios for $360 million, significantly expanding its footprint in the soundstage business. Needing an appropriate backdrop, Newsom signed the tax credit bill last week at Sunset Gower. Big players have been jumping in. But now, that long delay looks like a lucky break. Listings, photos, tours, availability and more. Sunset Glenoaks Studio Project Delayed Long Enough to Get Tax Credit - Variety 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 property was home to a gravel mining operation until 1974, when it was filled in and left vacant. Tenants at the studio properties include Netflix, which leases two Hudson Pacific-owned office buildings in Hollywood. A spacious front porch wraps around the front of this charming 3 bedroom / 2 bath home and overlooks the fenced-in yard on this 1/3 acre lot. 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 . The project to expand production at Television City comes as shortages keep the regions existing soundstages booked year-round. BPI Universal. A joint venture between builder Hudson Pacific Properties Inc. and investment firm Blackstone will create the 240,000-square-foot Sunset Glenoaks Studios movie and television production facility in Sun Valley by the third quarter of 2023, according to a statement from the developers.The movie production campus will cost between $170 million and $190 million. 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. 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. Send us a tip using our annonymous form. Sunset Glenoaks is located at 11070 West Peoria Street in the Sun Valley neighborhood near Burbank. The company also said on its website that construction began in 2020. Hudson Pacific announced the deal in a quarterly earnings release on Wednesday, but did not disclose the lender. 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. Signup for Breaking News Alerts & Newsletters. The primary bedroom is filled with natural light and hosts its . About 616 Golden Gate Pt #7. 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. 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". 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. Seven film . 2 Bd, 1 Ba 1 Half Ba. 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. | January 23, 2023 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. Continue with Recommended Cookies. Hudson Pacific and Blackstone aren't the . 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. Storied movie studio Warner Bros. Ranch in Burbank will be redeveloped with 16 new soundstages as demand for facilities to make movies and television . Roger Vincent covers commercial real estate for the Los Angeles Times. Shadow Hills. 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. Hudson Pacific has been at the forefront of Hollywood's renaissance for more than a decade. 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. A rendering shows a planned movie studio, Sunset Glenoaks Studios, in the Sun Valley neighborhood of Los Angeles. 2023 Deadline Hollywood, LLC. The Los . 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. 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. 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. Floor plans are artist's rendering. HPP and Blackstone expect to finish Sunset Glenoaks Studios in the third quarter of 2023, according to the announcement. The firms also announced the planned development in a news release. Outside of the studio world, the firm is still heavily focused on office properties. 2021. 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. 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. This fabled orchid breeder loves to chat just not about Trader Joes orchids, Best coffee city in the world? We do not sell and will not sell any personal information. Something opening or closing in your hood? storage and mill shop for set and prop construction. New York-based. 1. 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. Major renovations from flooring to new kitchen, and bathrooms . 1 Available. 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. 3+ 3+ Beds. 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. In 1922, Harry Cohn of Cohn-Brandt-Cohn (CBC) Film Sales Corporation rented 6070 Sunset Blvd in Poverty Row. 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. Get our latest storiesin the feed of your favorite networks. 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. Hudson Pacific and Blackstone are adding a fourth project to their Sunset Studios family, unveiling plans to build Sunset Glenoaks Studios amid a booming . Is there anything else you'd like to ask 1267 St Ives Pl? 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. in the Sun Valley neighborhood near Burbank. 5 min read. 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. (15) We own 50% of the ownership interest in the unconsolidated joint venture that owns Sunset Glenoaks Studios. , 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. 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 a time stages 12 and 14 became indoor tennis courts. 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. The Sunset portfolio includes more than 60 stages across five lots in Los Angeles and the U.K. 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]. His memorial service was held on stages 12 and 14 at the studios (there is no stage 13). Large living room. The film . 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 Studios will cost between $170 million and $190 million and feature 240,000 square feet on more . About 22281 Tupelo Pl. 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. Sustainability and health and wellness are a priority. Plans unveiled for the first large-scale purpose-built studio development in Los Angeles in over 20 years. Manage Settings Dean Boerner is a California-based writer previously with Bisnow and the San Francisco Business Times. 3.We own 20% of the ownership interests in the unconsolidated joint venture that owns Burrard Exchange. New light . 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. Guard gated community. 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. Estars muy cerca de atracciones como Parque temtico Universal Studios Hollywood y Valle de San Fernando. New York-based RBC Real Estate Capital Partners provided the loan, property records show.
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