Engineering School Goes Hollywood

The SAE lease, valued at $4 million, marks the school's debut in the Los Angeles area, according to Mihalka, who works out of the San Fernando Valley office of GVA Daum and is a specialist in music-oriented real estate facilities.Mihalka reports that SAE's space will be a new area headquarters for the engineering trade school, which plans to move into the five-story office building at 6565 Sunset Blvd. in early 2005. SAE will occupy the entire ground floor and a portion of the fourth floor. Mihalka points out that building owner Paramount Contractors recently renovated the concrete and steel office building, which comprises a total of 75,000 sf. The building is familiar to area residents and visitors for a light show emanating from its roof. Paramount also owns the 6464 Sunset Building, a 100,000-sf structure across the street. SAE looked at properties in the Burbank area and other parts of the Valley, Mihalka reports, but with the school's desire to attract students from across the country, "a Hollywood address has much more appeal," Mihalka says. She adds that International entertainment-related companies like SAE are attracted to Hollywood "not only on the strength of its proximity to the major studios, but because Hollywood itself is a world-renowned brand."Founded in 1976, SAE has 47 locations worldwide, including New York City, Nashville and Miami, with one in Atlanta planned. The institute offers programs leading to audio and film diplomas. The Los Angeles location will house 25 studios and workstations, including a surround sound mixing theatre and blue screen stage.Paramount Developers and Contractors, based in Hollywood, is a family-owned business that has been developing and managing real estate in the Los Angeles area since the 1950s. Paramount was represented internally in the SAE lease negotiations by Brian Folb and Dirk Degraeve.