{"id":1004120524,"date":"2015-06-03T06:36:23","date_gmt":"2015-06-03T14:36:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004120524"},"modified":"2022-12-03T20:13:40","modified_gmt":"2022-12-04T04:13:40","slug":"hudson-pacific-says-hooray-for-hollywood","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-says-hooray-for-hollywood\/","title":{"rendered":"Hudson-Pacific Says \u2018Hooray for Hollywood\u2019"},"content":{"rendered":"<div id=\"attachment_1004120525\" style=\"width: 160px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Victor-Coleman-Hudson-Pacific-Properties.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004120525\" data-attachment-id=\"1004120525\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/hudson-pacific-says-hooray-for-hollywood\/victor-coleman-hudson-pacific-properties\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Victor-Coleman-Hudson-Pacific-Properties.jpg\" data-orig-size=\"439,336\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Victor Coleman Hudson Pacific Properties\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Victor-Coleman-Hudson-Pacific-Properties.jpg?w=439\" class=\"wp-image-1004120525 size-thumbnail\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/06\/Victor-Coleman-Hudson-Pacific-Properties.jpg\" alt=\"Victor Coleman Hudson Pacific Properties\" width=\"150\" height=\"150\" \/><\/a><p id=\"caption-attachment-1004120525\" class=\"wp-caption-text\">Victor Coleman, Hudson Pacific Properties<\/p><\/div>\n<p><em>By Barbra Murray, Contributing Editor<\/em><\/p>\n<p>ICON, a <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/west\/hudson-pacific-to-expand-hollywood-studios-by-400-ksf-office-tower-for-150m\/1004095098.html\">323,000-square-foot office project in Hollywood<\/a>, will soon be ready for its close-up. Hudson Pacific Properties Inc. just broke ground on the $200 million development, which will carry an address on Sunset Blvd.<\/p>\n<p>It\u2019s a big project with a big price tag and Hudson is confidently moving forward at full steam without a big pre-lease commitment. A major spec office undertaking doesn\u2019t scare the real estate company. \u201cHudson is one of Hollywood\u2019s largest landlords. We\u2019ve a track record of making investments that create value for our stockholders and enhance the community,\u201d Victor Coleman, chairman &amp;\u00a0CEO of Hudson, told <em>Commercial Property Executive<\/em>.<\/p>\n<p>Gensler Architects-designed ICON will be located on the Sunset Bronson Studios lot, the 10.6-acre property that was originally home to Warner Bros. Studios. Presently, the complex features 105,000 square feet of studio space, 100,000 square feet of office accommodations&#8211;including production and post-production space&#8211;and a 1,600-space parking structure is in the midst of sprouting up as well. ICON, like the rest of the Sunset Bronson property, will cater to the industry.<\/p>\n<p>\u201c[It\u2019s] a state-of-the-art, LEED Gold-certified, vertical creative campus ideal for the next-generation tech, media and entertainment companies driving Hollywood\u2019s new Golden Era,\u201d said Coleman. Hudson expects the entire Sunset Bronson Studios development to take the position of gateway to the Sunset Media and Technology Corridor.<\/p>\n<p>McCarthy is spearheading construction activity as general contractor and is on schedule to complete ICON in late 2016. In the meantime, Hudson is working on the tenant roster. \u201cWe\u2019ve a robust pipeline of potential tenants in excess of 2 million square feet&#8211;several looking to lease more than a third of the tower\u2019s available space&#8211;even with the project roughly 18 months away from delivery,\u201d Coleman added. \u201cThese are all brand-name and several global tech, media and entertainment companies, looking to locate, expand or consolidate operations in Hollywood.\u201d<\/p>\n<p>Hudson\u2019s long list of promising options likely comes as no surprise to market watchers. According to a first quarter 2015 report by commercial real estate services firm Transwestern, Hollywood, along with Playa Vista, is benefiting from strong growth in the entertainment, media and technology sectors, where creative office spaces and their accompanying amenities have become vital to recruiting and retention efforts.<\/p>\n<p>Coleman added, \u201cWe continue to see strong demand for Class A, creative office product, particularly along the submarket\u2019s Sunset Corridor, which combined with a lack of competitive supply makes us very confident we\u2019ll be able to announce some significant deals in the not too distant future.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>ICON will soon be ready for its close-up.<\/p>\n","protected":false},"author":952,"featured_media":1004120525,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21742,21747,15],"tags":[],"class_list":["post-1004120524","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-latest","category-office","category-west"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - 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