Wednesday, August 5, 2020

BLT Enterprises Acquires Television Center, One of the Crown Jewels of Hollywood

     
Television Center, a nearly 200,000 square-foot creative office and production campus situated on 6.4 acres in the heart of the Hollywood submarket of Los Angeles, CA
Bernard Huberman
HOLLYWOOD, CA – BLT Enterprises, a multi-faceted commercial real estate development and investment company, has acquired Television Center, a nearly 200,000 square-foot creative office and production campus situated on 6.4 acres in the heart of the Hollywood submarket of Los Angeles, California.

This ‘crown jewel’ property is steeped in Hollywood tradition being the original headquarters of Technicolor, and the studio lot for the silent film giant, Metro Pictures, the forerunner of Metro-Goldwyn-Mayer.

The asset is bounded by five iconic streets –Santa Monica Boulevard, Cahuenga Boulevard, Willoughby Avenue, Cole Avenue, and Romaine Street, according to Bernard Huberman, Founder and President of BLT Enterprises.
  
The original headquarters of Technicolor, and the studio lot for the silent film giant, Metro Pictures, the forerunner of Metro-Goldwyn-Mayer.

“This was a once-in-a-generation opportunity to acquire an asset of this scale in the Hollywood Media District, which is undergoing a renaissance with the convergence of media and technology companies,” says Huberman.

Brad McCoy
 “Prior ownership did a phenomenal job of transforming the property from its original uses, and we accept the passing of the baton and will continue the property’s evolution to attract more TV, film and digital production tenants from both traditional and streaming media companies, as well as innovative tech and design professionals.”

Additionally, Huberman explains that the opportunity to provide tenants with a large range of flexible office and production space at this central location is in line with BLT’s strategy to adapt to tenant needs over the long term, and could become more crucial in the aftermath of the COVID-19 pandemic.

Dave Wilson
“The office and production spaces come in a variety of sizes and there are many opportunities for build-to-suit development and redevelopment,” says Huberman.

 “Further, the studio campus layout of the property, with gated access, production facilities, almost 800 parking spaces and ample outdoor amenity areas, is attractive to both small tenants and enterprise users.”


Aaron Wilder 
With the acquisition, BLT now owns more than a quarter million square feet of office, production and studio space in Hollywood, with opportunities to expand the portfolio with approximately 200,000 square feet of untapped development.

This acquisition comes on the heels of the firm’s purchase of a four-stage studio lot adjacent to Television Center last year and the establishment of BLT Studios, serving production clients throughout the area. Earlier this year, BLT also acquired two other creative office projects within a half-mile of Television Center.


Patricia Shlageck

BLT was represented by Brad McCoy, Dave Wilson and Aaron Wilder of Lee & Associates, West LA, in this transaction. They are also acting as advisors on leasing, repositioning and development opportunities at Television Center, and at BLT’s other Hollywood, Santa Monica and West Los Angeles projects.


Bryan Kenny 
Acquisition financing was arranged by Bryan Kenny and Will James of Sunrise Mortgage, and title and escrow were handled by Mike Slinger, Patricia Shlageck, and their teams at Chicago Title.

About BLT Enterprises

Headquartered in Santa Monica, Calif., BLT Enterprises was founded in 1984 and is a multi-faceted real estate development and investment company with an exceptional track record of success in industrial and commercial real estate. 

Will James
The firm has developed or acquired more than $2 billion in assets to date.

BLT Enterprises specializes in the acquisition, entitlement, development, operation, and property management of industrial, office, retail, mixed-use and special-use properties.





 With the acquisition, BLT now owns more than a quarter million square feet of office, production and studio space in Hollywood, with opportunities to expand the portfolio with approximately 200,000 square feet of untapped development.



CONTACT: 

Katie Haga 
khaga@brower-group.com

    

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