East End Capital is going Hollywood.
The New York-based company has filed plans to add to its budding portfolio of content-creation space with a new studio in Glendale in Los Angeles’ San Fernando Valley. Urbanize first reported the plans, citing a study published by the City of Glendale for a project with 10 new soundstages, three flex spaces, offices, other support space and a four-level garage.
The future San Fernando Soundstage Campus will replace 10 warehouses and surface lots at 5426 San Fernando Road and 753 West California Avenue with four new buildings containing more than 406,000 square feet on 9 acres designed by Relativity Architects.
The new plan comes shortly after East End Capital filed plans to build a 720,400-square-foot studio development with 16 soundstages and Class A office space in Downtown L.A.’s Arts District. East End Capital also has plans for 72,000 square feet in two soundstages, as well as attached office space, at 1239 South Glendale Avenue.
Glendale is next to Burbank, which is perhaps the top media market in the country with companies like Disney, Netflix, and Warner Bros. For example, last year, Brookfield Properties acquired the headquarters for DreamWorks Animation in Glendale for $327 million.
Savills released a report this month showing occupancy for studios and soundstages remains well above 90 percent in L.A., and streaming services have budgeted an estimated total global content spending of around $100 billion, including $33 billion earmarked by Disney, and $18 billion each from Netflix and Warner Bros.