Prologis has submitted its plans for a new studio campus in Los Angeles’ Arts District. Designed by Relativity Architects (whose recent projects also include production facilities in Boyle Heights and Glendale, Calif.), the development will be known as Alameda Crossings.
The current owners acquired the property last year, spending $90 million to close that deal. Located at 1716 E. Seventh St. on a nine-acre site that previously hosted a Greyhound bus terminal, the campus will feature 10 soundstages and 291,000 square feet of Los Angeles office and support space. The proposed project will also have a parking garage with capacity for 941 vehicles and 136 bicycles.
“We are excited about the opportunity to redevelop what was the Greyhound Bus Terminal in LA’s Arts District,” said Prologis Vice President, Lauren Achtemeier. “We will work with the city on our plans and engage with the community throughout the process. Prologis is a long-time member of the Los Angeles business community. We own and operate 17 buildings in the city of Los Angeles, resulting in over 1,000 jobs and supporting more than 60 customers.”
Prologis’ entitlement application also contained an alternative plan for the site that would allow for the construction of a logistics facility geared toward research and development. Plus, the logistics giant can always capitalize on its relationship with Amazon as the flow of goods going through Prologis-owned properties makes up 2.5% of global gross domestic product.
The San Francisco-based REIT’s plans follow on the heels of a flurry of soundstage and studio developments to accommodate the likes of Amazon, HBO, Netflix, Disney and Warner Bros.
Similarly, East End Capital also announced the construction of a 720,400-square-foot studio downtown that’s likely to incorporate 16 soundstages, along with Class A Los Angeles office space in four buildings at the corner of Sixth and Alameda streets.
Notably, the greater Los Angeles area already boasts 57 such facilities totaling 54 million square feet of space with occupancy rates well above the 90% mark. The Los Angeles Times’ former printing plant is also scheduled for a $650 million redevelopment as Atlas Capital Group seeks to transform it into a studio complex with 17 soundstages and 212,300 square feet of offices.
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