A joint venture between builder Hudson Pacific Properties Inc. and investment firm Blackstone will begin construction by the end of this year on a 240,000-square-foot movie and television production facility in Sun Valley called Sunset Glenoaks Studios.
“We expect construction to start this year, in the next month and a half, and then we expect to open probably in the third quarter, sort of the mid-year 2023,” Jeff Stotland, head of global studios and services for Hudson Pacific Properties, said of the project which was initially announced in July. “We expect construction is going to take probably about 20 months and we’re on track for that.”
The project is expected to cost between $170 million and $190 million and will join the ventures’ growing portfolio of recently purchased and upgraded legacy facilities, including Sunset Gower Studios, Sunset Bronson Studios and Sunset Las Palmas Studios in Hollywood.
The 10-acre property at 11070 W. Peoria St. near Glenoaks Boulevard will feature seven soundstages with a to-be-determined configuration of studio tenants.
The lot’s stages will range from 15,000 to 21,000 square feet, featuring 35- or 40-foot clear heights and technology intended to “future-proof” the studio. Sunset Glenoaks’ design includes the option to shoot on a virtual stage, a power grid designed for LED lighting as well as high-speed fiber connectivity with scalable production-level internet.
In addition to the production power, according to a company statement, the project will seek LEED certification and operations will be 100 percent carbon neutral with advanced waste, water and energy reduction programs. The Sun Valley location seeks to leverage its advanced technology, as well as its proximity to Burbank, a hub for movie studios and production companies, including Walt Disney Co. and Warner Bros. Entertainment.
‘Super attractive’ location
“Sun Valley is really just a great location for studio clients. It’s maybe 10 minutes north of Burbank. It’s close to the airport. They are close to our facilities in Hollywood. So for us, it’s a bet that L.A. is going to continue to thrive as a hub of content production,” Stotland said. “The location within L.A. is super attractive, because it’s kind of nearby our existing Hollywood facilities where we feel like there’s some economies of scale as we build out a platform.”
Blackstone and Hudson Pacific have maintained focus on the Los Angeles market for several years as the joint venture expands its studio offerings. Sunset Bronson Studios, formerly known as the Old Warner Bros. Studios, KTLA Studios and Tribune Studios, was purchased by Hudson Pacific in 2008. The studio was the site where the first talking feature film, “The Jazz Singer,” was filmed in 1927, and has since gone on to be the filming location for Netflix Inc. shows including “Girlboss” (2017), “Country Comfort” (2021) and “Pretty Smart” (2021).
Last year, investment fund Blackstone Property Partners acquired 49 percent of the Sunset portfolio, totaling 2.2 million square feet including on-site or adjacent office space. Hudson Pacific retained 51 percent and continues to run day-to-day operations, leasing and development.
Going forward, the joint venture has its sights set on more of the Los Angeles market, catering to an area in which studio space remains scarce.
“I can’t speak for anybody else but, for us, Los Angeles is one of our top priorities in terms of markets. There’s over 400 stages in L.A. and we think there’s certainly room for a lot more, given the demand for content production. Certainly purpose-built, high-quality, well-located studios are at the core of what our strategy is for growing the business. So I feel super bullish about L.A.,” Stotland said. “It’s a market where, given all the infrastructure, talent and tax credits, it’s a great place to be today. It’s going to be a great place to produce content in the future. So we feel really confident about Los Angeles as a market and think it’s under-supplied for now.”