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The Real Deal Los Angeles

HBO close to inking deal for entire office portion at Ivy Station: sources

The deal is part of a tech-entertainment convergence in burgeoning Culver City
By Natalie Hoberman | December 13, 2018 12:03PM

From left: HBO CEO Richard Plepler and Tom Wulf of Lowe Enterprises (Credit: Getty Images)

HBO is close to signing a deal to lease the entire 200,000-square-foot office building at the under-construction Ivy Station complex in Culver City, The Real Deal has learned.

The lease is the latest example of a burgeoning tech-entertainment convergence in Culver City, which is drawing media and entertainment companies from the Westside and Silicon Valley.

A joint venture between Lowe, AECOM Capital and Rockwood Capital is developing the massive $350 million mixed-use project, which will include apartments, a hotel and retail.

Representatives for both HBO and Lowe declined to comment.

The deal comes nearly a year after HBO’s plans to lease Lincoln Property Co.’s 128,000-square-foot project, also in Culver City, fell through. Apple ultimately leased the entire site.

HBO would be relocating from Santa Monica’s Colorado Center once its lease expires in 2019.

Dubbed Ivy Station, the $350 million transit-oriented project is slated to include 200 apartments, a 148-room hotel, shops, restaurants and 1,500 underground parking spaces. The development will also feature an expanded courtyard where Lowe will hold movie nights, concerts and fitness classes.

Killefer Flammang Architects and EYRC are designing the complex, which will consist of several low-rise buildings on a 5.2-acre infill site.

Construction broke ground in June 2017, and is expected to be completed by late 2019.

HBO will also be joining Amazon, a fellow streaming competitor, in Culver City. The company has already signed on to lease 500,000 square feet at Hackman Capital Partners’ Culver Studios development. That’s in addition to the 75,000 square feet Amazon is taking at the nearby Culver Steps project.

Alexei Barrionuevo contributed reporting.