Miramax: Goodbye Century City, Hello West Hollywood

Century City has become a “flight to quality” draw for office tenants in Los Angeles, but not necessarily for Hollywood studios. Miramax is abandoning its Century City headquarters for West Hollywood.

The TV and film production unit of Paramount Global and Qatar-based beIN Media Group has inked a lease for 16,000 square feet of offices in The Lot at Formosa at 1041 North Formosa Avenue, according to the Hollywood Reporter. Miramax expects to move in this month.

Terms of the deal with owner CIM Group, based in Mid-Wilshire, were not disclosed.

Miramax, led by Jonathan Glickman, had been based in the 20-story tower at 1901 Avenue of the Stars, owned by Douglas Emmett. The size of its hub in Century City was not disclosed.

Brokers Pat Moody and Clay Hammerstein of CBRE represented Miramax in the West Hollywood lease. CIM Group was represented in-house by Blake Eckert, in association with brokers Nicole Mihalka and Hayley Blockley of JLL

The Lot at Formosa, an historic film studio at Santa Monica Boulevard and North Formosa, was built in 1918 and was home to Hollywood classics from “Some Like It Hot” to “West Side Story,” as well as hit TV Shows from “Big Little Lies” to “Little Fires Everywhere.”

CIM Group has owned and operated the 11-acre studio campus since 2007, where 100,000 square feet of historic offices have been occupied by Howard Hughes, George Lucas and Samuel Goldwyn.

CIM Group has revamped and expanded the historic studio campus, building three new office buildings, including Formosa South, Formosa West and Courtyard. The Lot has more than 200,000 square feet of support, production and post-production offices and seven soundstages.

In 2021, HBO and Max signed a lease for 161,100 square feet of offices at the historic lot, according to the Hollywood Reporter. Terms of the lease were not disclosed.

— Dana Bartholomew