HOLLYWOOD, Calif.--(BUSINESS WIRE)--J.H Snyder Co. today announced it acquired a 3.8 acre parcel across the street from Hollywood Center Studios, in Hollywood, Calif., and intends to build an architecturally distinct, entertainment industry-focused office campus on the site, the first Class A-project in Hollywood in decades and the only office campus in the area.
Plans for the development call for more than 225,000 square feet of campus-style office space, encompassing several environmentally oriented buildings. The project will include open courtyards with waterscapes, an on-site commissary and abundant on-site parking. Terms of the deal were not disclosed.
“We envision building an inviting, architecturally distinct campus never before seen in Hollywood,” said Jerry Snyder, the founder and senior partner of J.H. Snyder Co. “This campus will energize the community and provide work space for entertainment-related and other creative arts industry companies.”
The Seward Street property, which is in Los Angeles City Councilman Tom LaBonge’s District, is conveniently located to Hollywood Center Studios, RenMar Studios, Raleigh Studios, Paramount Studios, Sunset Gower Studios, Tribune Broadcasting and the CBS Sunset Campus. The office vacancy rate in the Hollywood area is approximately 5%.
“Much of the construction in Hollywood recently has turned office space into residential units, leaving a void in the office market,” Snyder said. “This is an opportunity to build the first Class A office campus from the ground up in Hollywood in decades and bring more jobs to Hollywood.”
The Jerde Partnership will design the office campus. The Venice, Calif.-based firm has designed such landmark projects as the 1984 Olympic Games in Los Angeles, the Bellagio Hotel in Las Vegas and the Horton Plaza in San Diego. The Jerde Partnership and J.H. Snyder Co. have collaborated to create retail and mixed-use destinations including The River in Rancho Mirage, West Hollywood Gateway in West Hollywood and NoHo Commons in North Hollywood.
About J.H. Snyder
The J.H. Snyder Co. is one of Southern California's oldest privately held real estate development firms, with a portfolio of nearly 3 million square feet of retail and entertainment/retail development; more than 2 million square feet of premier-class office space; and 41,000 homes and residential units. The Los Angeles-based company has developed two of the largest office projects in Southern California - The Water Garden in Santa Monica and Wilshire Courtyard on Wilshire Boulevard in Los Angeles’ Miracle Mile District. The company’s fully integrated retail division specializes in creating mixed-use town centers, including NoHo Commons, the 1 million-square-foot, mixed-use transit-oriented development in North Hollywood; the award-winning West Hollywood Gateway, a 250,000-square-foot multi-level urban infill development; and “The River," a 250,000 sq. ft. destination retail/entertainment center in the City of Rancho Mirage.