Renovated Vic Studios in Burbank listed for first time in 20 years
The production studio was the birthplace of “The Ellen DeGeneres Show”
The renovated, 3.2-acre Vic Studios facility at 1840 Victory Boulevard in Burbank Media Triangle has been listed for lease for the first time in two decades, The Real Deal has learned.
The campus includes two 4,000-square-foot studios, a 2,500-square-foot control room, a loading dock and free parking for 231 vehicles. The studios have outdoor common areas, energy efficient roofing and live broadcast capabilities.
Asking rent is $3.05 a square foot a month, according to listing details.
Los Angeles-based Hileman Cowley Partners, a joint venture between Cowley Real Estate Partners and the Hileman Company, acquired the 56,500-square-foot site for roughly $15.4 million in March 2016, records show. The developer recently completed the first phase of its rehabilitation.
Nico Vilgiate and Kyle Stanich of Colliers International have the listing.
The 1969-built Vic Studios was responsible for producing hits including “The Ellen DeGeneres Show,” “TMZ” and “The Peoples Court.”
Studios space has become one of the hottest real estate commodities in town, thanks to to the rising popularity of online videos and the renaissance of television. Investors like Hackman Capital Partners and Hudson Pacific Properties have swooped into the space, where demand has begun to far outpace the supply.
“Sound stages have historically run at a utilization rate of about 70 percent,” JLL international director Carl Muhlstein said in June. “Today, many are running at close to 100 percent.”
Perhaps betting on the trend, CBS Corporation has been in discussions with brokerages to sell its 25-acre studio complex at 7800 Beverly Boulevard, TRD recently learned.