A Van Nuys-based movie production studio has changed hands for the first time since its 1957 founding for $1.6 million, or $181 per square foot, according to brokers involved in the deal.
NAI Capital Senior Vice Presidents Ziv Kozaski and Michael Dixon represented buyer Laurel Suite Arminta.
The sellers were Ewing and Jeannie Brown. Ewing “Lucky” Brown, who founded Movie Tech Studios in 1957, recently decided, at the age of 98, to sell the facility.
Located at 14737 Arminta St. and totaling 8,850 square feet, Movie Tech Studios has been a go-to source for filming and post production for more than 60 years. The studio boasts a 50-by-80-foot stage with a 30-foot-long, 14-foot-high green screen.
According to NAI Capital, the complex has “a large studio feel” with dressing and make-up areas, props, sets, outside back lot, post-production suite and screening and conference rooms. Post-production work on such films as “Kingdom of the Sea” and “Divorce Hearing” was done at the facility.
“This was a rare opportunity for my client to acquire a film production studio in the heart of the San Fernando Valley,” NAI’s Kozaski said in a statement. “This studio had been on the market for some time. We understood the asset, presented it to our client and closed all cash within 30 days.”