{"id":1004703660,"date":"2024-02-28T12:58:50","date_gmt":"2024-02-28T20:58:50","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004703660"},"modified":"2024-10-01T02:14:22","modified_gmt":"2024-10-01T10:14:22","slug":"why-cre-investors-are-zooming-in-on-studios","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/","title":{"rendered":"Why CRE Investors Are Zooming In on Studios"},"content":{"rendered":"\n

A new star is emerging on the commercial real estate scene. The up-and-coming headliner? Film and sound production studios. Soaring demand for content unleashed by the streaming wars is the big trend putting these specialized properties in the investment and development spotlight.<\/p>\n\n\n\n

\n
READ THE DIGEST<\/strong><\/a><\/div>\n<\/div>\n\n\n\n

\u201cStudio operators<\/a> have increasingly sought out modern, high-quality spaces enabled with the technology for productions,\u201d said Jacob Albers, head of alternative insights at Cushman & Wakefield<\/strong>. \u201cThis alignment between capital and media has led to major redevelopments of existing studios and large-scale new developments.\u201d<\/p>\n\n\n\n

\"Markets
Markets beyond Los Angeles and New York City continue to attract production facilities. At Electric Owl Studios in Atlanta, sustainability is a big selling point. The brainchild of developers Dan Rosenfelt and Michael Hahn, the 312,000-square-foot facility opened in June 2023 and is billed as the first studio to earn LEED Gold certification. Image courtesy of Electric Owl Studios<\/em><\/figcaption><\/figure>\n\n\n\n

Scripting incentives<\/h2>\n\n\n\n

Tax credits are among the biggest drivers of where the industry goes. \u201cNew Jersey just introduced its new tax incentive program last year, and then New York state increased its cap from $420 million to $700 million,\u201d noted Anthony Jasenski, CBRE<\/strong>\u2019s film studio practice leader for the Americas. Also on the radar: Buffalo, N.Y., and the state\u2019s Hudson Valley. Philadelphia is also in the mix, said Jasenski, even though that metro isn\u2019t yet ready to compete with the heavyweights.<\/p>\n\n\n

\n
\"In\n\t\t\t\n\t\t\t\t\n\t\t\t<\/svg>\n\t\t<\/button>
In the recent past, investors have shown increased interest in traditional media markets including the Playa Vista enclave of L.A., where this studio space is located and where a concentration of media, entertainment and tech companies exists.
Image courtesy of Cushman & Wakefield<\/em><\/figcaption><\/figure><\/div>\n\n\n

According to the 2023 Tri-State Film & Television Report<\/em>, published by CBRE Research in January 2024, leading states for film tax incentives are Connecticut and Georgia with no annual caps, California ($330 million cap), New Mexico<\/a>  ($110 million) and Texas ($45 million).<\/p>\n\n\n\n

The traditional media capitals of New York City and Los Angeles are attracting plenty of attention, Albers said. When USAA<\/strong> and Square Mile Capital<\/strong> merged in 2023 as Affinius Capital<\/strong>, Square Mile<\/strong> brought its sprawling Radford Studio Center in Studio City, Calif., to the new firm. Square Mile had previously announced plans to spend more than $1 billion redeveloping the Radford Center campus, which it had acquired in 2021 for $1.9 billion in a joint venture with Hackman Capital Partners<\/strong>.<\/p>\n\n\n\n

Blackstone<\/strong> and Hudson Pacific Properties<\/strong> are pursuing large-scale projects under the Sunset Studios banner. The largest is the $350 million Sunset Pier 94 Studios<\/a>, a partnership with Vornado Realty Trust<\/strong> to develop a 266,000-square-foot studio on Manhattan\u2019s Far West Side. (About 2,500 miles to the west, Blackstone and Hudson Pacific Properties are planning a 130,000-square-foot expansion of Sunset Las Palmas in Hollywood, incorporating four soundstages, Albers noted.)<\/p>\n\n\n\n

The partners are also approaching completion on a 257,000-square-foot, seven-soundstage development, Sunset Glenoaks, in Shadow Hills, Calif., a community in the eastern San Fernando Valley. Meanwhile, East End Studios plans a 275,000-square-foot Queens, N.Y.<\/a>, studio space, on the strength of a $193 million loan originated by J.P. Morgan and Canyon Partners.<\/p>\n\n\n\n

Production facilities are also generating a flurry of deals. Last September, Stockbridge Capital Group<\/strong> and Worthe Real Estate Group<\/strong> acquired Warner Bros. Studio Ranch in L.A. for $175 million. As part of a $500 million investment in the property, Stockbridge and Worthe will build 16 new soundstages, more than 300,000 square feet of office space and other facilities, which will be leased to Warner.<\/p>\n\n\n\n

And in a $17 million deal, Cinespace Films Studios<\/strong> purchased sound stages in Atlanta and Wilmington, N.C., from EUE\/Screen Gems Studio. Among other credits, Netflix\u2019s Stranger Things<\/em> was shot on these locations, Albers reported.<\/p>\n\n\n\n

\"The
The recently completed Cinelease Studios in Jersey City, N.J., is symbolic of the growth of studio operations in the Garden State, which is rich in technical talent and offers a generous film tax credit program, according to CBRE. Image courtesy of REBEL Media & Marketing<\/em><\/figcaption><\/figure>\n\n\n\n

Upsides, downsides<\/h2>\n\n\n
\n
\"Sources:\n\t\t\t\n\t\t\t\t\n\t\t\t<\/svg>\n\t\t<\/button>
Sources: CNN, Digiday, Fierce Video, FinancesOnline, The Hollywood Reporter, IndieWire, Nexttv, The Numbers, Variety, Vulture, Walt Disney Co., CBRE Research, Q2 2023<\/em><\/figcaption><\/figure><\/div>\n\n\n

Among the advantages of investing in studio assets is that they offer exposure to the media or content production side of the business. Previously, barriers to entry prevented gaining that exposure, Jasenski noted. Another plus is that the studio development pipeline shows no signs of outpacing the growing demand to produce new content, despite possible industry cutbacks.<\/p>\n\n\n\n

Delivering specialized services can boost revenue, too. Production companies must hire catering services to feed the cast and crew, rent office space for script development and lease equipment. \u201cWhen I was at NBCUniversal, it was seen as a one-stop shop,\u201d said Sonnet Hui, vice president & general manager of Project Management Advisor<\/strong>. \u201cYou can rent costumes, have someone build the set, have it catered on site, rent all the lighting on site. The studio owner is making a profit on all these services they\u2019re offering the production company.\u201d <\/p>\n\n\n\n

Lease structure is also reason to be circumspect. The typical 12-month deal exposes the owner to occupancy risk. \u201cThese are shorter-term rentals. There\u2019s a lot of feast or famine,\u201d Hui noted. \u201cWhen you have it booked up, it\u2019s great.\u201d After buying Culver Studios in Culver City, Calif.,<\/a> a decade ago, Hackman Capital Partners made a major investment in the property and then signed Amazon to a 15-year lease. \u201cBut that doesn\u2019t happen every day,\u201d she added.<\/p>\n\n\n\n

Another industry trend bears watching. As production dollars have shifted from theatrical releases to streaming, some streaming companies are racking up big losses. \u201cEven Netflix is starting to retrench and relying more than ever on reruns,\u201d said Glenn Brill, managing director at FTI Consulting<\/strong>.<\/p>\n\n\n\n

\"Built
Built in 1969, this studio space in the Playa Vista neighborhood of Los Angeles was recently refurbished with a new roof and skylights, reflecting increased demand for redeveloped as well as new studio space, according to Cushman & Wakefield. Image courtesy of Cushman & Wakefield<\/em><\/figcaption><\/figure>\n\n\n\n

Investment outlook<\/h2>\n\n\n\n
\"*Soundstages\n\t\t\t\n\t\t\t\t\n\t\t\t<\/svg>\n\t\t<\/button>
*Soundstages in metropolitan New York, including New Jersey
Sources: FilmLA, CBRE Research Q4 2024<\/em><\/figcaption><\/figure>\n\n\n\n

The actors\u2019 and writers\u2019 strikes, and more conservative budgeting, augur a substantial drop in output in 2024, Albers predicted. Despite these headwinds, production facilities will be in high demand. \u201cConsolidation will lead to fewer, more well-capitalized tenants,\u201d he said. \u201cAs film studios<\/a> merge and fall under the umbrella of larger media conglomerates or tech companies, there will remain massive amounts of capital seeking to produce content over the next year.\u201d<\/p>\n\n\n\n

Another factor driving demand for studio space: the increasing technical sophistication of content, according to Hui. As an example, she cites The Mandalorian<\/em>, a part of the Star Wars <\/em>franchise that was filmed entirely at Manhattan Beach Studios. \u201cThat technology has gotten so much better, and it saves (the production) from having to go out on location or out of state.\u201d<\/p>\n\n\n\n

Jasenski\u2019s outlook for 2024 is optimistic. New studio facilities will be delivered, but at the same time, the larger media companies will be competing to release attention-getting new content. \u201cIn the near term, I feel the market will reach equilibrium necessary for it to operate successfully,\u201d he said.<\/p>\n\n\n\n

Read the March 2024 issue of C<\/a>PE.<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

These specialized properties are ready for their close-up. <\/p>\n","protected":false},"author":450,"featured_media":1004703761,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,1521,21808,51037],"tags":[52016,32892,32789,32799,37237,35295,35708,33030],"class_list":["post-1004703660","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-digital","category-featured","category-trends","tag-affinius-capital","tag-blackstone","tag-cbre","tag-cushman-wakefield","tag-fti-consulting","tag-hudson-pacific-properties","tag-stockbridge-capital-group","tag-vornado-realty-trust"],"acf":[],"yoast_head":"\nWhy CRE Investors Are Zooming In on Studios - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Why these specialized properties are ready for their close-up.\" \/>\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\/why-cre-investors-are-zooming-in-on-studios\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why CRE Investors Are Zooming In on Studios\" \/>\n<meta property=\"og:description\" content=\"Why these specialized properties are ready for their close-up.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2024-02-28T20:58:50+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-10-01T10:14:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Electric-Owl-Atl-Opening-Game-2023-06-24-019.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1200\" \/>\n\t<meta property=\"og:image:height\" content=\"930\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Jeffrey Steele\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/\",\"name\":\"Why CRE Investors Are Zooming In on Studios - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Electric-Owl-Atl-Opening-Game-2023-06-24-019.jpg\",\"datePublished\":\"2024-02-28T20:58:50+00:00\",\"dateModified\":\"2024-10-01T10:14:22+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d331e0059e00242bd623aa07925cd418\"},\"description\":\"Why these specialized properties are ready for their close-up.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Electric-Owl-Atl-Opening-Game-2023-06-24-019.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Electric-Owl-Atl-Opening-Game-2023-06-24-019.jpg\",\"width\":1200,\"height\":930,\"caption\":\"Zooming In on Studios. Image courtesy of Electric Owl Studios\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Why CRE Investors Are Zooming In on Studios\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d331e0059e00242bd623aa07925cd418\",\"name\":\"Jeffrey Steele\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/e3b86ed4966801c068929e64f1499066c50266dd32dcc06241cc4af6a6547de6?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/e3b86ed4966801c068929e64f1499066c50266dd32dcc06241cc4af6a6547de6?s=96&d=mm&r=g\",\"caption\":\"Jeffrey Steele\"},\"description\":\"A Chicago-based freelance writer since 1989, Jefftrey Steele has written on real estate for more than three decades. His real estate writing has appeared in the Chicago Tribune, Barron's, Modern Luxury, HouseLogic, Forbes.com and many other publications. He has written for Multi-Housing News since 2009.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/jeffreysteele-2\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Why CRE Investors Are Zooming In on Studios - Commercial Property Executive","description":"Why these specialized properties are ready for their close-up.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/","og_locale":"en_US","og_type":"article","og_title":"Why CRE Investors Are Zooming In on Studios","og_description":"Why these specialized properties are ready for their close-up.","og_url":"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2024-02-28T20:58:50+00:00","article_modified_time":"2024-10-01T10:14:22+00:00","og_image":[{"width":1200,"height":930,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Electric-Owl-Atl-Opening-Game-2023-06-24-019.jpg","type":"image\/jpeg"}],"author":"Jeffrey Steele","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/","url":"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/","name":"Why CRE Investors Are Zooming In on Studios - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Electric-Owl-Atl-Opening-Game-2023-06-24-019.jpg","datePublished":"2024-02-28T20:58:50+00:00","dateModified":"2024-10-01T10:14:22+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d331e0059e00242bd623aa07925cd418"},"description":"Why these specialized properties are ready for their close-up.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Electric-Owl-Atl-Opening-Game-2023-06-24-019.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Electric-Owl-Atl-Opening-Game-2023-06-24-019.jpg","width":1200,"height":930,"caption":"Zooming In on Studios. Image courtesy of Electric Owl Studios"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/why-cre-investors-are-zooming-in-on-studios\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Why CRE Investors Are Zooming In on Studios"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/d331e0059e00242bd623aa07925cd418","name":"Jeffrey Steele","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/e3b86ed4966801c068929e64f1499066c50266dd32dcc06241cc4af6a6547de6?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/e3b86ed4966801c068929e64f1499066c50266dd32dcc06241cc4af6a6547de6?s=96&d=mm&r=g","caption":"Jeffrey Steele"},"description":"A Chicago-based freelance writer since 1989, Jefftrey Steele has written on real estate for more than three decades. His real estate writing has appeared in the Chicago Tribune, Barron's, Modern Luxury, HouseLogic, Forbes.com and many other publications. He has written for Multi-Housing News since 2009.","url":"https:\/\/www.commercialsearch.com\/news\/author\/jeffreysteele-2\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/02\/Electric-Owl-Atl-Opening-Game-2023-06-24-019.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004703660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/450"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004703660"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004703660\/revisions"}],"predecessor-version":[{"id":1004730970,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004703660\/revisions\/1004730970"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004703761"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004703660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004703660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004703660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}