HPP signs post-production firm to big lease in Hollywood
Company 3 is taking half of newly built Harlow building in Sunset Las Palmas Studios
Hudson Pacific Properties has signed a post-production studio firm to a big lease at the newest addition to its Sunset Las Palmas Studios in Hollywood.
Company 3 will take 70,285 square feet at HPP’s newly built Harlow building, according to the Los Angeles Business Journal. The 11-year lease starts in the second quarter of 2022, according to the report.
HPP completed the four-story, 128,000-square-foot complex last year.
Blackstone Group acquired a stake in Sunset Las Palmas in 2020 in a deal with Hudson Pacific for a 49 percent stake in three of the company’s Hollywood properties. The other two are Sunset Gower and Sunset Bronson studios. HPP handles leasing, management, and further development of those properties.
Like most other commercial landlords in L.A., HPP struggled to fill space last year. Just a quarter of its office space was occupied at the end of 2020.
Still, it moved forward with plans to expand Sunset Gower Studio and secured city approval to add 500,000 square feet of space to the 16-acre property.
Company 3 also leases the entirety of HPP’s 3401 Exposition complex in Santa Monica. The company is owned by Deluxe Entertainment Services Group and specializes in color grading and other post-production services.
[LABJ] — Dennis Lynch