LOS ANGELES--(BUSINESS WIRE)--Hudson Pacific Properties, Inc. (NYSE: HPP) today announced that the company has signed an agreement with Netflix to occupy more soundstages, office and support space at Sunset Bronson Studios in Hollywood.
Netflix has leased another 43,000 square feet at Sunset Bronson, including the historic mansion on Sunset Boulevard where the Warner Brothers had their office for decades. Last September, Netflix leased 99,000 square feet of soundstages and other space at Sunset Bronson.
Hudson Pacific’s growing relationship with Netflix now includes long-term lease agreements for approximately 560,000 square feet of office space, as well as soundstages, production office and support space at Sunset Bronson.
“Hudson Pacific Properties is very pleased to expand its relationship with Netflix,” said Victor Coleman, Chairman and Chief Executive Officer of Hudson Pacific Properties. “This transaction highlights the growing demand for the limited supply of stages in Hollywood, and the desire by leading content creators to lock up production facilities with long-term deals.”
Earlier this year, Netflix moved into ICON, its new Los Angeles headquarters on the Sunset Bronson lot. ICON is a 14-story, 326,000-square-foot creative office building developed by Hudson Pacific. In January of this year, Netflix also signed a lease for CUE, Hudson Pacific’s, five-story, 92,000-square-foot office building also on the Sunset Bronson lot. The nexus of the two office buildings with Sunset Bronson Studios has created one of the premier entertainment production complexes in the U.S.
In addition to Sunset Bronson Studios, Hudson Pacific owns nearby Sunset Gower Studios and Sunset Las Palmas Studios. Hudson Pacific expects to break ground later this year on EPIC, a 13-story, 280,000-square-foot, state-of-the-art office complex on Sunset Boulevard across from Sunset Gower and Sunset Bronson Studios. EPIC’s design builds upon ICON’s “vertical creative campus” concept and features approximately 30,000 square feet of amenitized outdoor space.
Hudson Pacific is the largest independent owner/operator of soundstages in Hollywood and the U.S., with studio holdings comprised of 35 stages, 1.2 million square feet on 40 acres. The company’s Hollywood portfolio totals more than 3 million square feet across eight properties, including studios and land for development.
About Hudson Pacific Properties
Hudson Pacific Properties is a vertically integrated real estate company focused on acquiring, repositioning, developing and operating high quality office and state-of-the-art media and entertainment properties in select West Coast markets. Hudson Pacific invests across the risk-return spectrum, favoring opportunities where it can employ leasing, capital investment and management expertise to create additional value. Founded in 2006 as Hudson Capital, the company went public in 2010, electing to be taxed as a real estate investment trust. Through the years, Hudson Pacific has strategically assembled a portfolio totaling over 17 million square feet, including land for development, in high growth, high-barrier-to-entry submarkets throughout Northern and Southern California and the Pacific Northwest. The company is a leading provider of design-forward, next-generation workspaces for a variety of tenants, with a focus on Fortune 500 and leading growth companies, many in the technology, media and entertainment sectors. As a long-term owner, Hudson Pacific prioritizes tenant satisfaction and retention, providing highly customized build-outs and working proactively to accommodate tenants’ growth. Hudson Pacific trades as a component of the Russell 2000® and the Russell 3000® indices. For more information visit HudsonPacificProperties.com.
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