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. The project will cost as much as $190 million and work is set to begin later this year. HUDSON PACIFIC PROPERTIES, INC. Management's Discussion and Analysis of 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 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 . 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 state-of-the-art, purpose-built location in Sun Valley is at 11070 W. Peoria Street, a 20-minute drive from Hollywood and ten minutes from Burbank. The timing almost could not have worked out better. 2023 Deadline Hollywood, LLC. A CERTIFIED LOS ANGELES SLB. Institutional Investors Zero in on Film Studios' Real Estate The developer applied for a building permit in April, but has not received it yet, according to city planning records. 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. The project will include seven soundstages with clear heights of 35 or 40 feet and 120,000 square feet of support space. The film-and-TV ready stages will range from 15,000 to 21,000 square feet, all with 35 to 40-foot clear heights. July 29, 2021 6:00am. 434 W. Dryden Street Apartments - 434 W Dryden St, Glendale, CA 91202 Liked by Lee Watkins. New York-based RBC Real Estate Capital Partners provided the loan, property records show. All dimensions are approximate. 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. The primary bedroom is filled with natural light and hosts its . 7083 Hollywood Blvd, 2nd Floor, Los Angeles, CA 90028 Phone: 212-260-1332 Manage Settings in the Sun Valley neighborhood near Burbank. Blackstone : Hudson Pacific Properties and Blackstone to Develop Los 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 . 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. What are you most curious about? Hudson Pacific buys Quixote Studios in $360-million deal The film . Last week, Gov. 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. "Unique to Glen Oaks Big Sur, you have access to acres of prime hiking trails, the Big Sur River, and redwood groves". But HPP and Blackstone could have more competition in a few years. 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 . California's Sunset Studios Expanding To UK's - Yahoo! Hudson Pacific, Blackstone Plan Studio Project in Sun Valley 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. 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. Its Sunset Glenoaks Studios is . Construction is expected to be completed in the third quarter of 2023 at a cost of $170-$190 million. 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. The facility will also include . 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. ALL RIGHTS RESERVED. Actual product and specifications may vary in dimension or detail. 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. . Its not just you, Work phones make a comeback as offices ban WhatsApp, TikTok, Desperate mountain residents trapped by snow beg for help; We are coming, sheriff says, Hidden, illegal casinos are booming in L.A., with organized crime reaping big profits. . 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. Needing an appropriate backdrop, Newsom signed the tax credit bill last week at Sunset Gower. Sunset Glenoaks Studios. Tag: Sunset Glenoaks Studios. The partners said the operation will prioritize sustainability, health and wellness including EV charging stations, bike parking and showers, and will be 100% carbon neutral. Baskin-Robbins adds a hint of waffle, and voila, Newsom, IRS give Californians until October to file tax returns, Federal Reserve officials sound warnings about higher rates. PARTNER CONTENT. That would make it much cheaper to shoot there than at pre-existing facilities. The firm did swing back to profitability, with $8.1 million in net income in the fourth quarter, compared with a $9.3 million net loss in the third quarter. Blackstone, Hudson Pacific to Add More Soundstages in North LA It will have seven soundstages, offices and other production facilities on 10 acres. (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. We and our partners use data for Personalised ads and content, ad and content measurement, audience insights and product development. Hudson Pacific Properties and Blackstone to develop Los Angeles area 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. Variety and the Flying V logos are trademarks of Variety Media, LLC. But Sunset Glenoaks already has administrative approval, and the neighbors legal challenge has been defeated. About 616 Golden Gate Pt #7. Hudson Pacific Properties and Blackstone to Develop - PressReleasePoint Hudson Pacific, Blackstone To Build New Sunset Glenoaks Studio - Deadline 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 Studios. 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. Something opening or closing in your hood? . 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. 10-K: HUDSON PACIFIC PROPERTIES, L.P. - MarketWatch 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. Hudson Pacific and Blackstone aren't the . 2021. Its expected to be complete by the third quarter of 2023. Read the latest edition of the Commercial Observer online! We are customizing your profile Sunset Glenoaks Studios Sun Valley, CA. Q&A: James Seppala on Expanding Blackstone's Content Creation Reach in 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. It's All About You, Here. COPYRIGHT 2020 KIMBERLINA WHETTAM & ASSOCIATES. Glen Oaks Big Sur | Fireside rooms, cabins, and cottages in the heart The project includes seven sound stages totaling 136,000 s.f, four production office buildings totaling 91,000 s.f. All Rights Reserved. Home / Los Angeles, CA / 1267 St Ives Pl. Community pool and tennis courts. An example of data being processed may be a unique identifier stored in a cookie. 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. Cmo llegar a La Seismic Construction en Echo Park, La en Autobs 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. Continue with Recommended Cookies. A show stopper is this direct front 2nd floor residence. 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. 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. RBC Capital Markets provided the loan in December to a limited liability company linked to Hudson Pacific, records show. The studio will comprise approximately 240,000 square feet on more than 10 acres, making it the first large-scale purpose-built studio development in Los Angeles in decades. Earlier this year, Hudson Pacific and Blackstone unveiled plans to develop Sunset Glenoaks Studios to take advantage of the growing market for soundstages. The . The project includes seven sound stages totaling 136,000 s.f, four production office buildings totaling 91,000 s.f. Sunset Glenoaks Studios - Snyder Langston 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. The company also said on its website that construction began in 2020. They appealed, and the appeal was denied in 2018. This Week's LA Deal Sheet (August 8, 2021) - Bisnow storage and mill shop for set and prop construction. Famed Universal Studios lot will add soundstages as film and TV [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. 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 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.. 2023 Variety Media, LLC. HPP and Blackstone expect to invest $170 million to $190 million to develop the complex, eyeing a completion by the third quarter of 2023. 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. 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. It will have seven soundstages, offices and other production facilities on 10 acres. 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. - Sunset Magazine. 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. A rendering of the entrance to the planned Sunset Glenoaks Studios in the Sun Valley neighborhood of Los Angeles. In 1977, the property was purchased by the Pick Vanoff Company for $6.2 million. ACCESSIBILITY AUDIT; Hudson Pacific, Blackstone to build Los Angeles area studio facility Since 2007, the studio has been undergoing both interior and exterior improvements on the lot. The firm plans to demolish approximately 160,600 square feet (14,920m2) of existing buildings at 6050 W on the 16-acre (6.5ha) site. 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. It would be the first such project built in Los Angeles in decades, and it would help stop shows from fleeing to other states. Great opportunity to move into this 5 bedroom 3 full bath lakeview pool home in prestigious Lexington estates. 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. Sunset Glenoaks Studio project tilting concrete panels to form the walls of the building! Studio Lot Rentals At Sunset Los Angeles 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. 3.We own 20% of the ownership interests in the unconsolidated joint venture that owns Burrard Exchange. 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.
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