956 Seward Street

Hollywood is defined by its position at the center of the entertainment industry. Netflix, Paramount, Viacom, Capitol Records, the Academy of Motion Picture Arts and Sciences, and Technicolor all have sizable presences in the area. Hollywood has a remarkable amount of office, residential, hotel, and retail development recently completed or underway. It has become a true live/work/play environment and has shifted from a commodity office market to the most valued office and studio locations in the metro area. Hollywood saw one of the most high-profile transactions in the nation in August 2020, when Blackstone, through funds affiliated with Blackstone Property Partners, acquired a 49% interest in Hudson Pacific Properties' Hollywood film and television production studio assets. The portfolio includes 35 stages totaling 1,200,000 sf of production space, as well as five on-lot office properties totaling 970,000 sf. Pricing for the partial interest equates to a total portfolio value of $1.65 billion. The Hudson Pacific Properties and Blackstone partnership have gone on to add Star Waggons, Zio Studio, and Quixote Studios for an additional $582 million. These transactions are a strong signal from one of the most sophisticated capital sources in the world that the long-term demand for production and office space geared toward the entertainment industry in the entertainment capital of the world has a bright and long future. LA Film provides further data to back the strength of the industry headquartered in Hollywood in this excerpt from their Q2 2022 Local Film Production report "Local filmmakers achieved an all-time quarterly high of 10,780 Shoot Days "SD" in Q4 2021, moving on to set a new Q1 record of 9,832 SD earlier this year. Even after a second-quarter slip, local production still surpassed pre-pandemic levels; finishing 6.8 percent ahead of Q2 2019 (with 8,632 SD) and 2.7 percent ahead of Q2 2018 (with 8,978 SD)."The opportunity to purchase one of the last significant media facility development sites in the Hollywood Media District. The property includes a two-story 40,000 sf climate-controlled building used as a film vault on 1.29 acres of commercial land. This opportunity also includes short-term income. The most recent Hollywood Community Plan Update proposes zoning for these parcels to be an M1 designation allowing FAR up to 3:1 when 0.7:1 FAR of media-related uses are incorporated into the project (to be confirmed by the buyer).