Hasbro Leases Offices, Studio Space in West Hollywood

Hasbro is planting a bigger flag in Los Angeles with a long-term lease at a historic West Hollywood studio campus.

The Boston-based toymaker will occupy more than 31,000 square feet at The Lot at Formosa on the third and fourth floors of the Formosa West office building there starting early next year, L.A. Business First reported. Asking rent for the third- and fourth-floor space in Formosa West is nearly $6 per square foot, per CBRE data cited by L.A. Business First.

Hasbro, which shifted its headquarters from Rhode Island to Boston last year, will relocate its Los Angeles teams dedicated to television, digital content, gaming, toys and licensing to the site, along with its artificial intelligence studio. With the new deal, the 112,000-square-foot Formosa West offices are now fully leased. The Lot at Formosa property in its entirety, which spans 11 acres, is roughly 95 percent occupied.

The Lot at Formosa campus dates back to 1918 when it was founded by Old Hollywood actors Mary Pickford and Douglas Fairbanks. The property was acquired by Samuel Goldwyn in the 1950s and sold again to Warner Brothers in 1980. CIM Group purchased the property in 2007. Last year, CIM Group sold off The Lot at Formosa to a shell company it owns for $230 million as part of a recapitalization effort.

Over the years, movies and TV shows like “Some Like It Hot,” “West Side Story,” “Big Little Lies” and “Euphoria” have been filmed at the studios there. The studio portion of the property also features approximately 100,000 square feet of offices once occupied by the likes of Hollywood stalwarts like George Lucas and Samuel Goldwyn.

Hasbro’s move underscores an increasingly popular trend in Los Angeles as media and entertainment tenants gravitate toward campus-style environments that blend production infrastructure with office space. Other companies like Puma, E.L.F., Skims and Spotify are betting on building in-house studios in Hollywood designed for content creation. — Chris Malone Méndez