CBS interviewed brokers to sell its Television City campus: sources

TRD LOS ANGELES /
Sep.September 27, 2017 07:00 AM
Television City and CBS Chairman Les Moonves

“This building has enough concrete in it to build 28 miles of four-lane highway,” Edward R. Murrow proclaimed in a 1953 CBS special about “Television City,” the network’s mammoth complex in Los Angeles’ Fairfax District.

Over the next six decades, TV City would became an iconic venue that hosted shows such as “The Price is Right,” “All in the Family,” and “Dancing with the Stars.”

But its status as a center of entertainment and culture may be in flux. CBS Corporation has been in discussions with brokerages to shop the complex at 7800 Beverly Boulevard, The Real Deal has learned.

After interviewing more than five firms for the roughly 25-acre property on Beverly Boulevard and Fairfax Avenue — which has about 1 million square feet of studio and office space, including eight stages — CBS recently narrowed the search down to two, sources said.

The network hasn’t indicated if it intends to vacate the property entirely, sources said. The nature of what will be marketed — a full sale, a sale-leaseback or a ground lease — remains unclear.

Representatives for CBS did not return multiple requests for comment.

CBS subleases much of the space at TV City to other production outfits, sources said. The network may be looking to consolidate its own operations at its Studio City campus at 4024 Radford Avenue, they said.

Though the discussions are in a preliminary stage, interested buyers are said to be circling. At least two major developers looked to talk with CBS once chatter about the broker interviews began to spread, sources said.

TV City does not appear to be entitled for new development. The campus, designed by architect Gin Wong at Pereira & Luckman, was built in 1952 on the former site of Gilmore Stadium. CBS acquired the land from the A.F. Gilmore Company for $1.2 million in 1949.


Related Articles

arrow_forward_ios
First District Supervisor Hilda Solis (Credit: Rebecca Sapp/Getty Images)

LA County select reopening target date for restaurants and retailers

LA County select reopening target date for restaurants and retailers
Eric Garcetti orders a moratorium on LA commercial evictions (Photo credit: iStock photo)

Garcetti orders a moratorium on commercial evictions in LA

Garcetti orders a moratorium on commercial evictions in LA
LA promo

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!

Coming Soon: The Real Deal Los Angeles’ Winter 2020 issue!
From left: Howard Schwimmer and Michael S. Frankel, with 1601 W. Mission Boulevard and 2757 E. Del Amo Boulevard (Credit: Google Maps)

Rexford Industrial adds to LA portfolio with $100M in acquisitions

Rexford Industrial adds to LA portfolio with $100M in acquisitions
Andrew McDonald and At Mateo in the Arts District

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more

Cushman’s West Coast chief talks expansion, DTLA market, the death of the starving baby broker & more
3339 Exposition Blvd. and Asher Luzzatto

Luzzatto Co. assembling creative office hub in West Adams

Luzzatto Co. assembling creative office hub in West Adams
Jason Illoulian and the Cemex plant

Faring makes $30M assemblage play on WeHo/LA border

Faring makes $30M assemblage play on WeHo/LA border
From left: Nuveen CEO Vijay Advani, Graymark founder/CEO Brian Hecktman

Graymark, Nuveen pay $97M for El Segundo creative office

Graymark, Nuveen pay $97M for El Segundo creative office
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...