UPDATED, May 16, 2022, 9:52 a.m.: East End Capital is planning to build its second studio complex in the Arts District.
The New York-based firm bought a 15-acre industrial site at the corner of South Alameda Street and 6th Street, the company announced on Thursday.
East End declined to comment on the purchase price. Public records show the 15-acre site, last sold for $130 million in 2015. Sixth and Alameda, a limited liability company linked to Southern California-based developer SunCal.
East End is planning to build up to 17 soundstages on the site, as well as up to 400,000 square feet of ancillary office and support space, according to East End co-founder Jonathon Yormak.
The purchase was made through East End’s partnership with investment firm King Street, Canadian pension fund Alberta Investment Management Corporation, and an unnamed sovereign wealth fund. In October, the firms announced plans to collectively buy and develop up to 750,000 square feet of production space across L.A.
The new facility is located about a mile from another one of East End’s planned studios. At 2233 Jesse Street, the firm is converting a cold storage facility into a 237,000-square-foot complex with four soundstages.
Though the new Arts District studio will operate independently, co-tenancy and shared parking may be available across both complexes.
East End has three other studio projects under development — two in Glendale and another closer to Downtown L.A. on Mission Road.
In Glendale, the company is adding two soundstages to an existing production studio at 1239 South Glendale Avenue, and building a 410,000-square-foot complex at 5426 San Fernando Road. The Glendale Avenue project is set to be finished in the next 18 months, while the San Fernando Road development is still going through permitting.
A previous version of this story incorrectly stated a limited liability company linked to RiverRock Real Estate Group owned the property. It’s linked to SunCal.