Netflix Leases More Space at Sunset Bronson Studios
Los Angeles Business Journal - http://myequityoffice.com/dailybrief//documents/netflix-leases-more-space-at-sunset-bronson-studios-july-13-2017-1499960542.pdf
Hudson Pacific Properties Inc. has signed an agreement for Netflix to occupy more soundstage, office and support space at Hollywood’s Sunset Bronson Studios, the Los Angeles real estate company announced on Wednesday.
Netflix has leased another 43,000 square feet at Sunset Bronson, adding to the 99,000 square feet of soundstages and other spaces Netflix leased at the location last September.
The company moved into its new L.A. headquarters on the Sunset Bronson lot earlier this year. The 14-story structure called Icon Tower houses 326,000 square feet of creative office space,
Netflix also has signed a lease for Hudson Pacific’s 92,000-square-foot Cue office building, also on the Sunset Bronson lot, bringing Netflix’ long-term lease agreements at the location to 560,000 square feet.
Hudson Pacific General Manager Bill Humphrey called Netflix’ expansion of production space at Sunset Bronson a continuation of the entertainment company’s global distribution goals.
“High-end provocative content is critical to their model,” Humphrey said.
Humphrey added that long-term leases ensure Netflix will have a place to produce such content for the foreseeable future in an area of limited production space.
“They haven’t owned production studios for years, like Columbia Pictures or Disney,” Humphrey said. “They need to rely on companies like Hudson Pacific to partner with them on means of production.”