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The Real Deal Los Angeles

Media distribution firm inks lease at Hollywood 959

Deluxe Entertainment Services will take 47K sf at Jerry Snyder's Media District creative campus
By Dennis Lynch | October 02, 2018 09:00AM

First Property Realty co-owner Micheal Geller and Hollywood 959

J.H. Snyder Company’s Hollywood 959 creative campus is now 75 percent leased, after inking a lease with an entertainment firm.

Deluxe Entertainment Services signed a lease for 47,000 square feet at the Hollywood Media District building on 959 Seward Street. First Property Realty Corporation of Beverly Hills represented Jerry Snyder’s eponymous company in the deal.

The lease comprises nearly a fifth of the 250,000-square-foot building. Rates are listed in First Property Group leasing materials as $4.65 per square foot, which puts Deluxe’s lease at around $2.62 million a year.

First Property’s Micheal Geller, Josh Bernstein, Ben Silver and Stefan Neumann represented J.H. Snyder. Cushman & Wakefield represented Deluxe Entertainment.

Deluxe Entertainment provides post-production, distribution, and editorial services to media companies. It also leases space in more than two dozen cities worldwide. The firm also occupies space at the nearby 900 Seward Street.

At Hollywood 959, Deluxe Entertainment joins Formosa Group, Southbay 3D, and Bold Films, among other media-related tenants at Hollywood 959.

Serendipity Labs also leased 36,000 square feet for a co-working space there in March.

First Property Realty has also leased office space for Koreatown giant Jamison. Last October the firm inked a lease with advertising agency Concept Arts at Jamison’s Harbor Building.