East End Capital is building a second studio complex in Glendale, continuing its push into the hot market for soundstage space across the Los Angeles area.
The New York-based firm is planning to develop about 410,000 square feet of soundstage and studio space, according to documents filed with the city of Glendale earlier this month.
East End Capital’s Jonathon Yormak confirmed the plans were for a second studio in Glendale, where the firm’s studio arm, East End Studios, already has a film studio campus at 1239 South Glendale Avenue.
East End bought two sites for the complex it plans to develop on the 5400 block San Fernando Road for $91 million from Vince Dundee in August, records show. The company obtained a $70 million loan for the property from a limited liability company linked to New York-based Oxford Properties.
All existing buildings on the site — a range of smaller industrial facilities built from 1946 to 1977 — will be demolished. East End will include 538 parking spaces on the site.
The development plans come on the heels of East End’s recent deal with King Street, Canadian pension fund Alberta Investment Management Corporation and an unnamed sovereign wealth fund that aims to eventually acquire and develop up to 750,000 square feet of studio space across Los Angeles.
Together, the entities will fund the two projects in Glendale, as well as a third in Downtown Los Angeles, where East End has filed plans to convert an existing cold storage facility at 2233 Jesse Street into a 237,000-square-foot facility.