Netflix signs another big lease with Hudson Pacific Properties
Netflix just inked a lease for several stages at Hudson Pacific Properties’ Sunset Bronson Studios, just months after pre-leasing the entire Icon office building that the developer is constructing next door.
The 10-year lease in the studio complex at 5800 West Sunset Boulevard is part of Netflix’ efforts to consolidate its presence in Hollywood, according to the Hollywood Reporter.
The streaming company first signed on for 200,000 square feet in the unbuilt 14-story Icon building last year. In February, it was revealed by The Real Deal that Netflix committed to an additional 10-year lease for the remaining five floors of Icon — that’s another 123,000 square feet.
“This deal also fulfills Hudson Pacific’s vision of bringing a major content producer to Hollywood, and highlights the changing nature of the studio business,” Victor Coleman, chairman and CEO of Hudson Pacific Properties, said Monday in a statement cited by the Reporter. [THR] — Cathaleen Chen