February 29, 2016
Netflix, which agreed to take 200,000 square-feet of space at Hudson Pacific Properties’ Icon building in Los Angeles last year, has now decided to pre-lease the entire four-story, 323,000-square-foot office tower that’s expected to be completed next year.
Earlier this month, Netflix executed an additional 10-year lease for the remaining five floors of Icon, a nearly $200-million creative office development currently under construction. That represents another 123,000 square feet of space and would bring the property located at 5800 W. Sunset Blvd. to 100-percent leased.
Hudson’s Victor Coleman says the Netflix deal is the “largest lease ever signed in Hollywood,” and a “landmark deal” at Sunset Bronson Studios. The transaction is being hailed as a convergence of tech and media in L.A.