Sony Pictures Animation Campus Sold to its Neighbor For $160 Million
February 4, 2021
Sony Pictures Animation campus has been sold for $160 million to its neighbor in downtown Culver City.
Hackman Capital Partners, owner of the Culver Studios and the Culver Steps, announced that it has acquired the Art Deco-style facility at 9050 Washington Boulevard.
The campus, built in the 1990s, includes three buildings with 182,000 square feet of offices. It is located directly across the street from The Culver Studios, where blockbusters like Gone with the Wind, E.T., A Few Good Man and Night at the Museum were filmed.
Hackman Partners, the largest independent owner of studio properties, also announced it has taken over management of the Raleigh Studios complex in Hollywood. Hackman co-owns its entertainment properties with Square Mile Capital Management, a New York real estate investment firm.
In the past two years, Hackman and its partnerships has purchased SilverCup Studios in New York, Eastbrook Studios in London and CBS Television City in Los Angeles for $750 million.
With its new properties, Hackman has more than 70 soundstages on eight lots and about 35 more in development. The biggest Los Angeles-area studio lot location, Warner Brothers in Burbank, has 36 sound stages.
The Culver Studios, Hackman's first movie property he bought in 2014 for $89.7 million, is now the headquarters to Amazon Studios. Construction is currently underway at the studio and should be done this year.
"When fully developed, The Culver Studios will total 720,850 square feet-including the Mansion and bungalows, five brand new buildings, totaling 500,000 square feet, and two parking structures with 1,930 spaces," said Hackman Partners. "All in all, the campus will offer 619,850 square feet of creative office and state-of-the-art production support space, 96,263 square feet of stages, and 4,736 square feet of stage support space."