Hollywood investor goes to school on studio trend

David Simon’s Hollywood-focused investment firm is looking to make the grade with the redevelopment of an elementary school into a three-building studio complex.

BARDAS Investment Group proposes to turn the private elementary school at 1200 North Cahuenga Boulevard into a 75,300-square-foot office-and-studio complex, according to documents filed with the city’s planning department.

The firm, which keeps its offices in West Hollywood, did not immediately respond to a request for comment.

BARDAS is planning to build production and post-production space on the site, with a total estimated investment of $70 million, according to its website. The property will join the firm’s other studio ventures under the Echelon Studios brand.

The conversion calls for a renovation of the existing building on the site and the addition of 46,900 square feet of space across two more. One building will also have retail space.

The property is owned by Scottsdale-based STORE Capital, which bought the school for $14.75 million in 2015, records show.

BARDAS has recently focused its efforts on building a combination of studio and office space across L.A., given the streaming service industry’s demand for content.

The firm has teamed up with Bain Capital to build a $420 million complex at 5601 Santa Monica Boulevard in Hollywood, complete with 426,000 square feet of creative office space and 113,000 square feet of studio facilities. The pair bought the complex for $81.9 million in February.

The complex at 1200 Cahuenga is one of seven studio complexes the firm is building under the Echelon name, including the complex at 5601 Santa Monica Boulevard.

BARDAS expects to spend at least $740 million on the studio developments altogether.