National real estate investment companies Hudson Pacific Properties and Blackstone have plans to develop a 240,000-square-foot studio facility in Sun Valley, the duo announced late last month.
Named Sunset Glenoaks Studios, the project will rise on a 10-acre site at 11070 W. Peoria St. and contain seven film and television sound stages ranging from 15,000 to 21,000 square feet, along with production office and support space. It will also join the Sunset Studios brand, which includes three Hollywood studios – Sunset Gower Studios, Sunset Bronson Studios, and Sunset Las Palmas Studios – also owned by HPP and funds managed by Blackstone.
The total development cost for Sunset Glenoaks Studios is expected to be between $170 million and $190 million, according to the recent announcement.
“Sunset Glenoaks is a perfect example of our long-term strategy with Blackstone to buy and transform existing facilities and to build new, state-of-the-art studios within Los Angeles and other high-priority production markets we’ve identified for expansion,” Hudson Pacific Properties Chairman and CEO Victor Coleman said in a statement.
“We are leveraging our development and studio operations expertise to further expand Sunset Studios’ facilities here in Los Angeles, where demand from leading content creators for top-notch, fully integrated sound stages and support space continues to significantly outpace supply.”
HPP and Blackstone expect to finish Sunset Glenoaks Studios in the third quarter of 2023, according to the announcement. Upon its completion, the joint venture will collectively own and operate 42 stages, or 3.5 million square feet, of LA-area studio facilities under the Sunset Studios platform.
