HPP and Blackstone plan $190M production studio complex

10-acre Sunset Glenoaks would be 2nd major development project since JV formed

Los Angeles /
Aug.August 02, 2021 09:23 AM
Blackstone Group President Johnathan Gray and Hudson Pacific Properties CEO Victor J. Coleman with the proect (Blackstone, HPP)
Blackstone Group President Jonathan Gray and Hudson Pacific Properties CEO Victor J. Coleman with the proect (Blackstone, HPP)

Hudson Pacific Properties and Blackstone Group are planing a nearly $200 million production studio complex in Sun Valley, which would be the second such development in their joint venture.

The 240,000-square-foot Sunset Glenoaks Studios is slated to include seven soundstages, offices, and other support space on 10 acres at 11070 W. Peoria Street, according to Commercial Observer. The firms also announced the planned development in a news release.

HPP and Blackstone expect to invest $170 million to $190 million to develop the complex, eyeing a completion by the third quarter of 2023.

The complex is the second large project the two firms have undertaken since HPP sold a 49 percent stake in its studio portfolio to Blackstone last year.

The “Sunset Studios” branding follows the branding of three other large production facilities they own — Sunset Gower Studios, Sunset Bronson Studios, and Sunset Las Palmas. HPP and Blackstone secured approval last November for their 500,000-square-foot expansion of Sunset Gower in Hollywood.

HPP owns roughly 20 percent of all leasable soundstage space in Los Angeles County, making it one of the largest studio investors in L.A. along with Hackman Capital Partners.

If Sunset Glenoaks is completed, the JV’s Sunset Studios brand would total 42 soundstages and 3.5 million square feet of space, according to the report.

But HPP and Blackstone could have more competition in a few years. Bardas Investment Group in May announced plans to build a 350,000-square-foot soundstage-and-office complex in Hollywood.

Two big projects recently surfaced in Downtown L.A. — Atlas Capital Group wants to convert a former Los Angeles Times printing plant into a 17-stage campus, while East End Capital is planning a 237,000-square-foot complex closer to the Arts District.

[CO] — Dennis Lynch 





    Related Articles

    arrow_forward_ios
    Google CEO Sundar Pichai, Hudson Pacific Properties CEO Victor Coleman and One Westside at 10800 Pico Boulevard (Hudson Pacific Properties, Getty)
    Google denies any construction delays at One Westside
    Google denies any construction delays at One Westside
    Google CEO Sundar Pichai, Hudson Pacific Properties CEO Victor Coleman and One Westside at 10800 Pico Boulevard (Getty, Hudson Pacific Properties)
    Google faces delays on One Westside buildout
    Google faces delays on One Westside buildout
    Hudson Pacific Properties Victor Coleman and Art of Quixote studios (Hudson Pacific Properties)
    Hudson Pacific Acquires Quixote Studios for $360M
    Hudson Pacific Acquires Quixote Studios for $360M
    View of Sylmar Village at 12534 San Fernando Road (JZA)
    Sylmar project aims for 100% affordable market
    Sylmar project aims for 100% affordable market
    Bridge Industrial CEO Steve Poulous and 6950 N Tujunga (Bridge Industrial, Google Maps)
    Bridge Industrial plans big warehouse in NoHo
    Bridge Industrial plans big warehouse in NoHo
    A photo illustration of 14519 West Sylvan Street in Van Nuys (Google Maps, Getty Images)
    Jonathan Azal plans more apartments in Van Nuys
    Jonathan Azal plans more apartments in Van Nuys
    Chris Pearson with 22111 Erwin Street (MTV, Google Maps)
    Were landlords negligent in death of reality TV star?
    Were landlords negligent in death of reality TV star?
    Midwood CEO John Usdan  and a rendering of  Sportsmen’s Lodge hotel (Midwood, Kilograph)
    Sportsmen’s Lodge Hotel redevelopment catches environmental endorsement
    Sportsmen’s Lodge Hotel redevelopment catches environmental endorsement
    arrow_forward_ios

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

    Loading...