Studio Lands 50,000 SF in New Leases

ReelzChannel is a new cable television network that will be based in 32,000 sf at the Los Angeles Center Studios campus. The network, which is scheduled to launch in September, will offer original programs and will provide information about movies.

The Entertainment Industry Foundation, which works on behalf of causes such as cancer research, creative arts, education, cardiovascular research and others, will be moving into 18,000 sf at the L.A. Center Studios location from its previous space in Studio City, where it owns a building that it plans to sell.

The two new deals follow other recent leasing at the studio campus that bring this quarter's leases to a total of 70,000 sf. The 450,000 sf of office space on the LACS campus includes about 200,000 sf that is typically leased to long-term tenants and the remainder in short-term production space.

The relocations of ReelzChannel and Entertainment Industry Foundation to Los Angeles Center Studios illustrates the demand from tenants that are looking for "a full-service entertainment campus catering to all aspects of the entertainment industry," comments Sam Nicassio, president of LACS.

In the two recent leases, the Entertainment Industry Foundation was represented by Lee Polster of Travers Realty/Oncor International, and ReelzChannel was represented internally by Gary Thorne. Los Angeles Center Studios was represented by Frank Buckley, Christopher Bonbright and John Tronson at Ramsey-Shilling Commercial Real Estate Services and internally by Sam Nicassio for both of the transactions.

Los Angeles Center Studios is a full-service studio for television, film and commercial production on a 20-acre campus that features six 18,000-sf sound stages in addition to the 450,000 sf of short- and long-term class A office space for entertainment-related and creative companies. Terms of the two new deals were not disclosed; asking rate for the space is about $2.65 per sf per month.