Amazon boosts lease at Hackman’s Culver Studios development to estimated 500K sf

Amazon Studios, the company’s production house, will occupy 4 of the 5 office buildings

Los Angeles /
Dec.December 11, 2018 11:00 AM
Micheal Hackman and rendering of his Culver Studios development in Culver City

Hackman Capital Partners is having a big week. The local developer closed on its sale of the historic CBS Television Studios property in the Fairfax District and went public with some big news — it involves Amazon — at its Culver Studios expansion project.

At the groundbreaking for its Culver project, the firm announced that anchor tenant Amazon will lease more than 70 percent of the development for its Amazon Studios production wing, more than previously thought, according to Curbed.

That upsized lease comes out to around 505,000 square feet of the property, after the expansion is completed. Culver Studios in Culver City is now 358,000 square feet. But it will be twice that size — 721,000 square feet — when work is done. Hackman’s plan for Culver studio will include additional production space, offices and sound stages. Amazon will lease four of the five new office buildings under the new plan.

Hackman purchased the studio complex in 2014 for $85 million. It was built in 1918 and anchored by a “mansion” modeled after George Washington’s home at Mount Vernon in Virginia. A number of legendary films were shot at Culver Studios, including “Gone with the Wind,” “Citizen Kane” and “King Kong.”

Amazon is also leasing all 75,000 square feet of office space at its nearby Culver Steps development.

Hackman and CBS announced the close of a $750 million sale of the 25-acre Television City studio complex on Monday. The complex is somewhat protected from redevelopment because of its status as a Historic-Cultural Monument, but Hackman could still redevelop its large parking lots. [Curbed] — Dennis Lynch 


Related Articles

arrow_forward_ios
Galpin Motors' Bert Boeckmann with 9777 Wilshire Boulevard
Galpin Motors to open Lotus dealership in Beverly Hills
Galpin Motors to open Lotus dealership in Beverly Hills
Link Logistics's Luke Petherbridge with 1719 Chapin Rd (Loopnet, Link Logistics, Getty)
Link Logistics buys 82K sf warehouse in Montebello for $29M
Link Logistics buys 82K sf warehouse in Montebello for $29M
Irvine Mayor Farrah Khan and Live Nation's Michael Rapino with rendering of Irvine amphitheater(City of Irvine, Getty, Gensler)
Irvine to develop 14K-seat OC bowl for $130M
Irvine to develop 14K-seat OC bowl for $130M
Anaheim Ducks' Henry and Susan Samueli; 2695 E. Katella Avenue (OCVibe, Anaheim Ducks)
Anaheim Ducks owners envision $4B entertainment village
Anaheim Ducks owners envision $4B entertainment village
 30801 South Coast Highway (Montage Hotels, Getty)
Chinese insurer to sell Montage Laguna Beach for $700M
Chinese insurer to sell Montage Laguna Beach for $700M
Charles Company's Mark and Arman Gabay and a rendering of 550 E. Colorado Boulevard in Pasadena (WATG)
195-room hotel planned for Pasadena’s Playhouse District
195-room hotel planned for Pasadena’s Playhouse District
Bardas Investment Group's David Simon with 6311 Romaine Street
Hollywood’s Television Center readies for $600M makeover
Hollywood’s Television Center readies for $600M makeover
Century Plaza project at 2025 Avenue of the Stars and Woodbridge Capital Partners' Michael. Rosenfeld (CoStar)
Stake in the Century Plaza Hotel heads to auction block
Stake in the Century Plaza Hotel heads to auction block
arrow_forward_ios

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

Loading...