{"id":1004183905,"date":"2017-07-14T00:46:07","date_gmt":"2017-07-14T08:46:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004183905"},"modified":"2022-12-08T16:21:42","modified_gmt":"2022-12-09T00:21:42","slug":"netflix-expands-in-hollywood","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/netflix-expands-in-hollywood\/","title":{"rendered":"Netflix Expands in Hollywood"},"content":{"rendered":"

By Keith Loria, Contributing Editor<\/p>\n

\"Icon<\/a>

Icon at Sunset Bronson Studios in Los Angeles<\/p><\/div>\n

After leasing 99,000 square feet of soundstages and other space at Sunset Bronson last September, Netflix has signed a deal to lease another 43,000 square feet at the famous Hollywood studio from Hudson Pacific Properties Inc.<\/p>\n

The new space includes the historic mansion on Sunset Boulevard where the Warner Brothers had their office for decades.<\/p>\n

\u201cThis latest lease with Netflix demonstrates Hudson Pacific\u2019s success in locking in long-term lease agreements with top-tier content creators,\u201d <\/em>Bill Humphrey, Hudson Pacific Properties\u2019 senior vice president, Sunset Studios, told Commercial Property<\/em> Executive<\/em>. \u201cThe transaction also highlights the growing demand for the limited supply of stages in Hollywood and the desire by leading content creators to secure state-of-the art production facilities for the long term.\u201d<\/em><\/p>\n

To date, Hudson Pacific and Netflix have teamed on more than 560,000 square feet of office space. The streaming giant originally signed a deal for space at Icon, a 14-story, 326,000-square-foot creative office building developed by Hudson Pacific, in 2015, and earlier this year, Netflix signed a lease<\/a> for CUE, Hudson Pacific\u2019s five-story, 92,000-square-foot office building also on the Sunset Bronson lot.\u00a0<\/p>\n

\u201cNetflix\u2019s growing presence at Sunset Bronson Studios is further momentum for the revitalization of Hollywood,\u201d <\/em>Humphrey said. \u201cThe re-emergence of Hollywood as the entertainment production capital of the world is due to a variety of factors, including Hudson Pacific\u2019s more than $200 million investment in upgrading its Hollywood studios.\u201d<\/em><\/p>\n

Sunset Bronson Studios is situated on 11 acres, just a block west of the 101 Freeway. It is bordered by Sunset Boulevard to the north, Bronson Avenue to the west, Van Ness Avenue to the east and Fernwood Avenue to the south.<\/p>\n

Another tenant at the property is Tribune Broadcasting\u2019s KTLA, an affiliate of CW, which has been housed at Sunset Bronson for more than 50 years.<\/p>\n

A studio expert<\/h2>\n

This past May, Hudson Pacific Properties acquired the Hollywood Center Studios, a 369,000-square-foot media and entertainment campus with future development rights for $200 million, renaming it Sunset Las Palmas Studios, and adding it to the Sunset Studios brand family.<\/p>\n

Hudson Pacific also owns Sunset Gower Studios and Sunset Las Palmas Studios. It also plans to soon develop EPIC, a 13-story, 280,000-square-foot, state-of-the-art office complex on Sunset Boulevard across from these two studios.<\/p>\n

Overall, the company owns 35 stages and 1.2 million square feet on 40 acres. It\u2019s Hollywood portfolio totals more than 3 million square feet across eight properties, including studios and land for development.<\/p>\n

\u201cDemand for sound stages and production offices is at an all-time high in Hollywood,\u201d <\/em>Humphrey said. \u201cThe convergence of tech and entertainment production in Hollywood has motivated content creators such as Netflix, Amazon and others to locate to the community. They recognize the strategic importance of being part of Hollywood\u2019s dynamic ecosystem of creative artists and production talent uniquely concentrated in the region.\u201d<\/em><\/p>\n

Image courtesy of Yardi Matrix<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Hudson Pacific Properties facilitated the deal. To date, the two companies have teamed on more than 560,000 square feet of office space.<\/p>\n","protected":false},"author":451,"featured_media":1004183909,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21743,21808,21748,1594,21742,21747,15],"tags":[33176,33420,33421],"class_list":["post-1004183905","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-deals","category-featured","category-industrial","category-los-angeles","category-latest","category-office","category-west","tag-hudson-pacific-properties-inc","tag-netflix","tag-sunset-bronson-studios"],"acf":[],"yoast_head":"\nNetflix Expands in Hollywood - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/netflix-expands-in-hollywood\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Netflix Expands in Hollywood\" \/>\n<meta property=\"og:description\" content=\"Hudson Pacific Properties facilitated the deal. 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