HPP and Blackstone expect to invest $170 million to $190 million to develop the complex, eyeing a completion by the third quarter of 2023. That project will finally move forward under the ownership of one of the region's biggest owners and developers of production facilities. Outside of the studio world, the firm is still heavily focused on office properties. Browse 15 Studios in Glen Oaks, NY to find your dream Glen Oaks studio apartment. New York-based. Sen. Bill Cassidy, R-La., on Sen. Kyrsten Sinema speaking out against President Biden's push to change the filibuster. Construction started in fourth-quarter 2021 and will add 241,000 square feet and seven sound stages to Hudson and Blackstones joint. The consent submitted will only be used for data processing originating from this website. 1279 Sqft. About 616 Golden Gate Pt #7. Something opening or closing in your hood? Start your search today. Hudson Pacific's Sunset Studios has revolutionized the studio for those revolutionizing content. 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. , 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. Los Angeles, A $150,000 executive protection dog? 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 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. Gavin Newsom signed a new $150 million tax credit into law, which is aimed to spur the construction of new production facilities. Hudson Pacific and Blackstone are adding a fourth project to their Sunset Studios family, unveiling plans to build Sunset Glenoaks Studios amid a booming . 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. and a 30,000 s.f. Application. Hospdate en esta casa de vacaciones en Norte de Hollywood. 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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. 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. 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. 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. Tendrs a tu disposicin albercas privadas, wifi y estacionamiento. 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. 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. demand in LA by leading content creators for top-notch, fully integrated sound stages and support space continues to significantly outpace supply. 2. If Sunset Glenoaks is completed, the JVs Sunset Studios brand would total 42 soundstages and 3.5 million square feet of space, according to the report. Variety and the Flying V logos are trademarks of Variety Media, LLC. RBC Capital Markets provided the loan in December to a limited liability company linked to Hudson Pacific, records show. You will be redirected back to your article in. This site is protected by reCAPTCHA Enterprise and the Google Privacy Policy and Terms of Service apply. Without the guidance of the Cohn Brothers, Columbia Pictures Corporation was not the profit-making company it once was. The film . The . RBC is one of many institutional lenders cashing in on studio development. 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. Continue with Recommended Cookies. For a time stages 12 and 14 became indoor tennis courts. Home > Portfolio > Studios & Entertainment > Sunset Glenoaks Studios. 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. 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. a leading real estate investment trust based in Los Angeles and owner/operator of Sunset Studios. Our three locations, Sunset Bronson Studios, Sunset Gower Studios and Sunset Las Palmas Studios, provide premiere studio production facilities, the latest amenities, sophisticated technology and top notch service. 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 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. Plans unveiled for the first large-scale purpose-built studio development in Los Angeles in over 20 years. Gavin Newsom signed a new $150 million tax credit into law, which is aimed to spur the construction of new production facilities. A rendering of a production office at Sunset Glenoaks Studios. 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. Not all features are available in every apartment. Sunset Studios. 10. The studios are located at 5800 Sunset Boulevard, 1438 N Gower Street, and 1040 N Las Palmas Avenue, respectively. 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. 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. 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. Sylmar Studios executives and Los Angeles City Councilwoman Monica Rodriguez assembled in Sylmar for the start of the $500 million development project, . 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. New York-based RBC Real Estate Capital Partners provided the loan, property records show. 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. We are customizing your profile 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. 7083 Hollywood Blvd, 2nd Floor, Los Angeles, CA 90028 Phone: 212-260-1332 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. 3+ 3+ Beds. Manage Settings A rendering of a soundstage at the planned Sunset Glenoaks Studios in Sun Valley. Advertisement. The project is estimated to cost between $180 million and $200 million. Well maintained complex. Television programs which have occupied several sound stages most notably include current series Scandal and How to Get Away with Murder and ended series Heroes, Dexter, NewsRadio, The Amanda Show, Deal or No Deal, Saved by the Bell, Hip Hop Harry, City Guys, Six Feet Under, JAG, Married with Children, Soap, That's So Raven, Moesha, The Parkers, The Donna Reed Show, Father Knows Best, Hazel, I Dream of Jeannie (which also used the "Father Knows Best" exterior house and "Donna Reed Show" interior living room), Bewitched, The Monkees, the first two seasons of The Golden Girls,[2] the final three seasons of The Facts of Life, and the final two seasons of Silver Spoons. Sunset Glenoaks is being planned by Hudson Pacific and its partner Blackstone. Floor plans are artist's rendering. 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 . We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. 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. Sunset Studios. 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]. 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. Last week, Gov. 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. Hardwood floors throughout refinished. 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. Great opportunity to move into this 5 bedroom 3 full bath lakeview pool home in prestigious Lexington estates. That sets up a race for productions to lease out space in newly built soundstages before the credit funding is exhausted. 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. Sunset Glenoaks Studios, which will represent a total investment of approximately $170 to 190 million, is expected to be completed in third quarter 2023. Sen. Cassidy applauds Sinema's speech, blasts Biden for dividing Americans. Large living room. The firms also announced the planned development in a news release. Sunset Glenoaks is located at 11070 West Peoria Street in the Sun Valley neighborhood near Burbank. 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? in the Sun Valley neighborhood near Burbank. Last week, Gov. HPP and Blackstone expect to finish Sunset Glenoaks Studios in the third quarter of 2023, according to the announcement. Deadline is a part of Penske Media Corporation. [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. Established in 1912, it continues today as Hollywood's largest independent studio and an active facility for television and film production on its twelve soundstages. Actual product and specifications may vary in dimension or detail. Tenants at the studio properties include Netflix, which leases two Hudson Pacific-owned office buildings in Hollywood. A rendering shows a planned movie studio, Sunset Glenoaks Studios, in the Sun Valley neighborhood of Los Angeles. 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. Read the latest edition of the Commercial Observer online! 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. Sustainability and health and wellness are a priority. 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. Sept. 1, 2022 11:12 AM PT. Desde Universal Studios Hollywood, Universal City, La 67 min; Desde SLS Hotel, a Luxury Collection Hotel, Beverly Hills, Beverly Grove, La 50 min; Desde 24 Hour Fitness, East Los Angeles . 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. 1 Bed. All our breaking news, straight to your inbox. PARTNER CONTENT. Have a question for 1267 St Ives Pl? Hudson Pacific Properties and Blackstone are planning a ground-up studio facility in Sun Valley. 2023 Variety Media, LLC. The lot, in the meantime, sat fallow. 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. 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. Golden Gate Point , a 25 acre private peninsula. Kaiser Permanente plans to move 1,200 administrative jobs from . 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. 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). Sunset Glenoaks Studios will cost between $170 million and $190 million and feature 240,000 square feet on more . The $150 million will be doled out by the California Film Commission on a first-come, first-served basis. It will cover 240,000 square feet on over 10 acres with seven sound stages. When Sunset Glenoaks is complete, Hudson Pacific and Blackstones Sunset Studios brand will have 42 soundstages. 1 Available. The developer applied for a building permit in April, but has not received it yet, according to city planning records. 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). 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. 2 Bd, 1 Ba 1 Half Ba. On this Wikipedia the language links are at the top of the page across from the article title. Its expected to be complete by the third quarter of 2023. Gregory Cornfield can be reached at gcornfield@commercialobserver.com. The home is located at the end of the cul de sac. The 240,000-square-foot Sun Valley project will be known as Sunset Glenoaks Studios. Listings, photos, tours, availability and more. 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. By early 2020, Butler told the L.A. Times that construction had just gotten underway, and was expected to last 20 months. $4,200/mo. It will have seven soundstages, offices and other production facilities on 10 acres. . 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. 2.We own 50% of the ownership interests in the unconsolidated joint venture that owns Sunset Glenoaks Studios. Preconstruction and construction services for a new studio campus on 10 acres. The project, spread across four hectares, is estimated to cost $170m to $190m, and is expected to be completed in the third quarter of 2023. 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? (16) Skyway Landing was sold on February 6, 2023. Its Sunset Glenoaks Studios is . 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. The first major studio built in LA in decades. Last updated March 1 2023 at 10:45 AM. 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 . - Sunset Magazine. New York-based RBC Real Estate Capital Partners provided the loan, property records show. 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. The Sunset portfolio includes more than 60 stages across five lots in Los Angeles and the U.K. Chad Johnson, Former 'Bachelorette' Contestant, Wins Round In . Storied movie studio Warner Bros. Ranch in Burbank will be redeveloped with 16 new soundstages as demand for facilities to make movies and television . 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 Boulevard adding storage area of 628,000 square feet (58,300m2). LEARN MORE. 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. About 22281 Tupelo Pl. But HPP and Blackstone could have more competition in a few years. His memorial service was held on stages 12 and 14 at the studios (there is no stage 13). Dean Boerner is a California-based writer previously with Bisnow and the San Francisco Business Times. 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. Roger Vincent. Assistant Project Manager, Sunset Glenoaks Studios. 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 project includes seven sound stages totaling 136,000 s.f, four production office buildings totaling 91,000 s.f. 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. 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. The timing almost could not have worked out better. It will have seven soundstages, offices and other production facilities on 10 acres. They appealed, and the appeal was denied in 2018. The year-ago loss was mostly attributed to a jump in operating expenses and costs associated with several major acquisitions. 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. NBCUniversal plans for a major development at its famed Universal Studios lot, adding more soundstages as media companies race to satisfy the content boom. This field is for validation purposes and should be left unchanged.
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