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Hollywoods Television Center negotiates for $ 64 million

 


Bernard Huberman and Hollywoods Television Center (BLT, Television Center)
Bernard Huberman and Hollywoods Television Center (BLT, TV center)

BLT Enterprises is the new owner of the Hollywoods Television Center movie studio, the last real estate acquisition during the so-called streaming wars.

The Santa Monica-based company paid a $ 64 million private partnership for the 6.4-acre resort on Cahuenga Boulevard and Romaine Street, according to the Los Angeles Times.

BLT will immediately rename it to Hollywood Media Center to reflect the shift of media from traditional platforms like TV and movies to streaming services and other internet platforms.

Blackstone Group and Hudson Pacific Properties recently entered into a $ 1.65 billion sound stage deal leased from Netflix.

The Hollywood Television Center property has more than 183,000 square feet of rentable space, according to a property’s website that lists approximately 4,600 square feet available. Tenants are a mix of tenants from the media, tech and entertainment industries, as well as a Golds Gym.

Part of this space is in century-old Art Deco buildings originally constructed by Technicolor as offices and film processing labs that were used on classic films such as Snow White and the Seven Dwarfs and The Wizard of Oz.

There is also a parking lot on part of the property south of Romaine Street that BLT could develop, according to BLT’s Chief Development Officer Robert Solomon.

The acquisition brings BLT’s Hollywood portfolio of multimedia production, studios and offices to 250,000 square feet.

BLT has a mix of properties in its portfolio across California, including office and industrial properties. In March, the company sold an 8-acre retail complex in the San Fernando Valleys Warner Center area to Kaplan Companies for $ 48 million. [LAT] Dennis lynch

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