NBC Universal’s office campus expansion will rise in studio backlot

400K sf project in Universal City begins as demand rises for office space near production studios

Los Angeles /
Feb.February 02, 2021 10:45 AM
NBCUniversal Chairman Steve Burke and CEO Jeff Shell with a rendering of the office project (NBCUniversal)
NBCUniversal Chairman Steve Burke and CEO Jeff Shell with a rendering of the office project (NBCUniversal)

Production studios are in demand in Los Angeles but so are the multimedia office complexes nearby.

Work is underway on NBC Universal’s 400,000-square-foot office campus at the Universal Studios backlot in Universal City, according to Urbanize.

NBC Universal announced the project in 2019, six years after it was approved as part of a wider redevelopment plan, the report noted. The office portion, set to rise on the corner of Universal Hollywood Drive and Lankershim Boulevard, will be completed in 2023.

The office development calls for the construction of new buildings, along with additions to existing structures. The new development will include an 11-story office building with 331,000 square feet of space, an 84,000-square-foot employee center and an eight-story parking lot for more than 1,200 vehicles.

Offices, food services, conference facilities, and screening rooms will be added to existing structures, according to Urbanize. House & Robertson Architects and LEVER Architecture are designing the campus.

The project is one of many studio and production-focused office developments in the works around Los Angeles. They have been fueled by the rise in original content on streaming platforms from Amazon, Netflix, Apple and Disney.
Investors are pouring money into the sector and the pandemic has only boosted consumer demand for that content.

Last month, Hackman Capital Partners said it was buying Sony Pictures Entertainment’s animation campus in Culver City. Hackman is among the most bullish studio and production real estate investors, with a growing entertainment portfolio currently worth $4 billion.

Last summer, Blackstone Group bought a 49 percent stake in Hudson Pacific Properties’ $1.65 billion Hollywood office and production portfolio. [Urbanize] — Dennis Lynch 


Related Articles

arrow_forward_ios
(Getty, iStock)
LA’s office market hasn’t even started to recover
LA’s office market hasn’t even started to recover
Rendering of 2045 E. Violet Street (Rios via Urbanize)
Major office complex proposed for Arts District
Major office complex proposed for Arts District
Rising CEO Christopher Rising and Park Calabasas
Rising Realty and Fortress sell Park Calabasas to Gemdale for $79M
Rising Realty and Fortress sell Park Calabasas to Gemdale for $79M
More new construction office space is coming online this year in LA than any other US market. (Getty)
LA expects 7M sf of new office space delivered in 2021. That’s a problem
LA expects 7M sf of new office space delivered in 2021. That’s a problem
Activision Blizzard CEO Bobby Kotick. (Getty, Activision)
Activision Blizzard vacates Santa Monica HQ, seeks new space
Activision Blizzard vacates Santa Monica HQ, seeks new space
9033 Wilshire Boulevard (Google Maps)
LaSalle sews up Beverly Hills medical office for $75M
LaSalle sews up Beverly Hills medical office for $75M
Hackman Capital Partners CEO Michael Hackman and Television City (Hackman Capital Partners and Flickr/vagueonthehow)
Hackman unveils massive plan to redevelop CBS Television City
Hackman unveils massive plan to redevelop CBS Television City
John Kilroy and 1800 Owens Street (Kilroy, iStock)
Kilroy Realty selling Dropbox HQ in San Fran for $1B
Kilroy Realty selling Dropbox HQ in San Fran for $1B
arrow_forward_ios

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

Loading...