Hileman Cowley Partners has completed the first phase of its rehabilitation of the nearly 40-year-old Vic Studios in Glendale and has begun marketing it for lease.

The Culver City developer, which acquired the 3.2-acre property in March 2016 for $15 million, retained Colliers International to lease the studio, the first time it has come on the market in 20 years. Monthly asking rents are $3.05 a square foot.

Hileman Cowley updated the 56,550-square-foot studio, at 1840 Victory Blvd., Glendale, to a state-of-the-art production campus that includes two audience-related sound stages and production, post-production, broadcast and live-streaming facilities, according to Colliers.

“Vic Studios is both a state-of-the-art, content-driven, production facility and a contemporary workplace ideal for creative users of all kinds,” Nico Vilgiate, a Colliers executive vice president, said in a statement.

The two-story building includes two 4,000-square-foot sound stages that can be enlarged to almost 70,000 square feet by expanding the mezzanine.

The property was the birthplace of a long string of hit television shows over the past 20 years, including “The Ellen DeGeneres Show,” “Extra!,” “The Peoples Court,” and others.

Editor’s Note: This story has been updated to correct the city where Vic Studios is located and also the date of its last sale.

Real estate reporter Neil Nisperos can be reached at [email protected]. Follow him on Twitter @ReporterNeil for the latest in L.A. real estate news.