A24 to Relocate to Pacific Design Center’s RedBuilding
Indie-entertainment company A24 will be relocating to the Pacific Design Center’s RedBuilding early next year, according to a release.
The company has leased 22,000 square feet out of 38,000 available of the 12th floor in the 400,000-square foot building at 750 North San Vicente Boulevard in West Hollywood. The asking rent for the space was $6.15 per square foot for the lease which is for 12 plus years, according to a source familiar with the transaction.
The company is currently located at 8321 Beverly Boulevard in West Hollywood, a mile from the PDC.
Marc Horowitz, the senior vice president and national director of leasing for Cohen Brothers Realty Corporation, represented Cohen, the landlord of the property, in the transaction. Robert Cavaiola and Matt Brainard both senior managing directors for Savills Studley Los Angeles represented A24. Savills Studley and A24 did not respond to a request for comment.
Horowitz told Commercial Observer A24 will be building out the premises and opted for the PDC because they “liked the creative synergy that exists from the exciting media companies that are already located at PDC.”
Tenants at the RedBuilding include AllSaints, real estate investment and development firm The Kor Group and digital talent agency DBA. Imagine Entertainment‘s creative incubator Imagine Impact, an arm of the company helmed by Ron Howard and Brian Glazer, will also be tenants in a collaboration with WeWork, where they will occupy a corner 26-person office space in the building, as CoStar reported earlier today.
Founded as A24 Films in New York City in 2012, A24 specializes in film distribution and film and television production and counts “Lady Bird” and “The Disaster Artist” among its past offerings.