Gaw Capital snags 3030 Studios in Atwater Village

Playboy Studios’ 15-year lease at the campus expired in September

TRD LOS ANGELES /
Jan.January 04, 2018 12:45 PM
3030 Andrita Street and Goodwin Gaw (Credit: LoopNet, GawCapital)

Gaw Capital USA, a subsidiary of Chinese investment firm Gaw Capital Partners, paid $31 million to acquire 3030 Studios in Atwater Village, The Real Deal has learned.

The 108,000-square-foot studio campus at 3030 Andrita Street sits on four acres of land, with three sound stages and creative office space.

World Class Capital Group, an Austin-based investor, paid $25 million for the property in 2013, property records show. It initially listed the property for lease in mid-July.

JLL’s Nicole Mihalka, Carl Muhlstein and Hayley Blockley had the listing.

Playboy Studios held a 15-year lease on the facility, which sources valued at roughly $48.6 million last summer. But the company had been renting out the campus on a stage-by-stage basis for the last few years of its contract. PBS’ “All My Children” and several Netflix programs are among the shows that were filmed there. Playboy’s lease ran out in September.

Gaw Capital confirmed the sale, but declined to comment. World Class Capital Group did not respond to immediate requests, nor did JLL.

Gaw Capital, led by Hong Kong real estate tycoon Goodwin Gaw, manages over $13 billion in assets worldwide, including the MacArthur building in Downtown L.A., according to its website. Gaw’s affiliate company — Downtown Properties — also owns the Hollywood Roosevelt Hotel and the Bradbury Building in DTLA.

Securing stage space in Hollywood has been challenging for production companies in recent years, as supply struggles to keep up with demand stemming from new media.  Hudson Pacific Properties — the largest independent owner of stages in Hollywood — is planning a 628,000-square-foot expansion at its Sunset Gower Studios. Many companies, however, are looking at more affordable destinations like Atwater Village, or Culver City, where Hackman Capital Partners is planning a 413,000-square-foot expansion.


Related Articles

arrow_forward_ios
Prop 15 property tax measure draws millions (Credit: iStock)

Prop 15 property tax measure draws millions of dollars from for and against campaigns

Prop 15 property tax measure draws millions of dollars from for and against campaigns
California is allowing barbershops and salons to reopen under new coronavirus mitigation guidelines (Credit: Noam Galai/Getty Images)

California allows barbershops to reopen, but LA holds back

California allows barbershops to reopen, but LA holds back
LA County assessor Jeffrey Prang

LA County properties valued at nearly $2 trillion…before pandemic

LA County properties valued at nearly $2 trillion…before pandemic
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
arrow_forward_ios

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

Loading...