Los Angeles-based Hudson Pacific Properties completed the $200-million acquisition of Hollywood Center Studios, a 369,000-square-foot media and entertainment campus in Hollywood, CA. The facility was renamed Sunset Las Palmas Studios.
The acquisition, which includes future development rights, reinforces Hudson Pacific’s position as the largest independent owner-operator of sound stages in the U.S. Its studio holdings comprise a total of 35 stages and 1.2 million square feet on 41 acres.
Located at 1040 North Las Palmas Ave., Sunset Las Palmas consists of 13 stages, production offices and support space on 15 acres near Hudson Pacific’s Sunset Gower and Sunset Bronson Studios.
Hudson Pacific’s Victor Coleman said, “The acquisition of Sunset Las Palmas Studios significantly expands the media and entertainment segment of our business. We will leverage our expertise in operating and redeveloping studios to meet growing demand from traditional and streaming media companies now spending billions to produce original content.”
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