Real estate developer J.H. Snyder Co. has plans to build what would be the only office campus in Hollywood on a 3.8 parcel it has purchased from Technicolor Inc.
The 959 Seward St. property will be developed into a 225,000-square foot campus-style office complex that will include low rise buildings and an on-site commissary. The $100 million project is intended for an entertainment industry tenant.
"The market in Hollywood for us is very tight and we were lucky enough to put together close to four acres, which is not easy to do," said Jerry Snyder, founder and senior partner of Los Angeles-based J.H. Snyder Co. "We are going to do something funky."
The parcel is located two blocks east of North Highland Avenue, between Melrose Avenue and Santa Monica Boulevard. Terms of the sale were not disclosed.
Venice-based Jerde Partnership will design the campus. The property formerly housed the facilities of Consolidated Film Industries, a film lab and processing company that Technicolor purchased in 2000.
The campus project follows Technicolor's decision to sign a lease for a six-story office building at Sunset Boulevard and North Gower Street that is being built by Sunset Gower Studios. It is the first new Class A office building for Hollywood in over two decades.
Snyder plans to break ground in nine months.
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