‘American Idol’ Producer Fremantle Signs 12-Year Lease in LA
Captiva Partners acquired the adaptive reuse project last summer
After converting a warehouse property into soundstage and office space, Captiva Partners has secured the first tenant at its new Reframe Studios in Los Angeles.
Fremantle — a producer of television shows including “American Idol” and “The Price Is Right” — has signed a 12-year lease for 43,000 square feet of studio space at the newly developed studio. CBRE (CBRE) announced the deal and represented the landlord.
Reframe Studios is located at 4561 Colorado Boulevard in Atwater Village between the L.A. River and West San Fernando Boulevard. Designed by Carlos Carrasquillo at Wolcott Architecture, the 7.3-acre project is adjacent to Quixote Studios and nearby Disney, Warner Bros. and NBCUniversal.
A joint venture involving Captiva Partners, Avalon Investment Company and Westbrook Partners acquired the 189,000-square-foot property for about $38 million last year. About 145,000 square feet remain available for lease.
Demand for production and stage space remains strong amidst limited availability throughout the L.A. region as tenants race for space and developers look to take advantage. Hudson Pacific Properties and Blackstone Group recently announced the 240,000-square-foot Sunset Glenoaks Studios project, and Hackman Capital Partners plans to add more than 1.13 million square feet of studio, office and support space at the historic Television City campus. Captiva is also completing a 100,000-square-foot adaptive reuse creative office project at the border of Burbank and Glendale named SFR.
CBRE’s Doug Marlow and Juliana Sampson represented Captiva Partners. Fremantle was represented by Ray Howden at Cresa.
Gregory Cornfield can be reached at email@example.com.