The Georgetown Company has acquired the Hollywood Media Campus from Gemdale USA Corporation for $93 million. The property is fully occupied by Netflix, via a sublease from master tenant Zest Finance. Located at 1350 North Western

Avenue in Hollywood, the property totals 75,593 square feet and is on a 3.5-acre site. Over the last 12 months, Netflix has made investments in the property, which includes significant renovations to create a trophy-quality asset. Underscoring the existing stable occupancy. In addition, the property features a development opportunity on an adjacent 1.7-acre site. The owner can either pursue by-right

development under the existing zoning or seek a zoning change to increase density, according to Newmark co-head of U.S. capital markets Kevin Shannon, one of the brokers that worked on the deal. Newmark executive managing directors Ken White and Rob Hannan and senior managing director Laura Stumm represented the seller in the transaction.