Valencia Studios, the production hub where television show “NCIS” films, has sold for more than $19 million to entities headed by Richard Reilly and Art Davis, the San Fernando Valley Business Journal reported.
The seller was Capital Foresight Limited Partnership and Valencia Studios NKG, according to a statement from the buyers.
The two-building complex, at 26030 Avenue Hall and 28343 Avenue Crocker, totals 121,000 square feet and comprises a backlot with a town set, six sound stages and more than 46,000 square feet of office space.
“There is a significant increase in production demand due to the influx of streaming content platforms,” Andrew Kirsh, an attorney who advised on the deal, told SFVBJ. “With a lack of high-quality studio sites in Los Angeles County, our clients seized on an opportunity to purchase Valencia Studios.” [SFVBJ] — Katherine Clarke